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The Development of Methodology for Innovative Project Effectiveness Parameter Estimation in Direction of Fuzzy Set Application. / Baranov, Alexander; Muzyko, Elena; Pavlov, Victor.

Emerging Issues in the Global Economy - 2017 International Economics Conference in Sibiu IECS. ed. / Silvia Cristina Mărginean; Claudia Ogrean; Ramona Orăștean. 1. ed. Springer Science and Business Media B.V., 2018. p. 23-33 (Springer Proceedings in Business and Economics).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Research › peer-review

Harvard

Baranov, A, Muzyko, E & Pavlov, V 2018, The Development of Methodology for Innovative Project Effectiveness Parameter Estimation in Direction of Fuzzy Set Application. in SC Mărginean, C Ogrean & R Orăștean (eds), Emerging Issues in the Global Economy - 2017 International Economics Conference in Sibiu IECS. 1 edn, Springer Proceedings in Business and Economics, Springer Science and Business Media B.V., pp. 23-33, International Economics Conference on Emerging Issues in the Global Economy, IECS 2017 , Sibiu, Romania, 01.01.2018. https://doi.org/10.1007/978-3-319-71876-7_3

APA

Baranov, A., Muzyko, E., & Pavlov, V. (2018). The Development of Methodology for Innovative Project Effectiveness Parameter Estimation in Direction of Fuzzy Set Application. In S. C. Mărginean, C. Ogrean, & R. Orăștean (Eds.), Emerging Issues in the Global Economy - 2017 International Economics Conference in Sibiu IECS (1 ed., pp. 23-33). (Springer Proceedings in Business and Economics). Springer Science and Business Media B.V.. https://doi.org/10.1007/978-3-319-71876-7_3

Vancouver

Baranov A, Muzyko E, Pavlov V. The Development of Methodology for Innovative Project Effectiveness Parameter Estimation in Direction of Fuzzy Set Application. In Mărginean SC, Ogrean C, Orăștean R, editors, Emerging Issues in the Global Economy - 2017 International Economics Conference in Sibiu IECS. 1 ed. Springer Science and Business Media B.V. 2018. p. 23-33. (Springer Proceedings in Business and Economics). doi: 10.1007/978-3-319-71876-7_3

Author

Baranov, Alexander ; Muzyko, Elena ; Pavlov, Victor. / The Development of Methodology for Innovative Project Effectiveness Parameter Estimation in Direction of Fuzzy Set Application. Emerging Issues in the Global Economy - 2017 International Economics Conference in Sibiu IECS. editor / Silvia Cristina Mărginean ; Claudia Ogrean ; Ramona Orăștean. 1. ed. Springer Science and Business Media B.V., 2018. pp. 23-33 (Springer Proceedings in Business and Economics).

BibTeX

@inproceedings{3a95f75985664befae01a27ed59a95b6,
title = "The Development of Methodology for Innovative Project Effectiveness Parameter Estimation in Direction of Fuzzy Set Application",
abstract = "The purpose of the paper is to develop methodology of sustainability and reliability estimation of innovative project effectiveness{\textquoteright} parameters with application of fuzzy sets, as well as the procedure of computation of reliability and sustainability of its fuzzy parameters. The method of fuzzy sets allows to estimate the fluctuation range of innovative project parameters depending on “swinging” its main input (exogenous) parameters, such as market prices of the product, investments expenditures, raw materials costs, etc. In the same time, it becomes possible to assess sustainability of the project effectiveness parameters to variations of its main input parameters, as well as their reliability. The use of fuzzy sets extends the capabilities of real options method{\textquoteright}s application to analysis of the effectiveness of investments in innovative projects and also allows to take into account the factor of uncertainty much better, which is especially important in the case of innovations implementation. Fuzzy set assessment of sustainability of forecasted financial flows and financial parameters generated by innovative project is carried out in three directions: for assessment of an innovative project effectiveness in a whole using discounted cash flows method, for assessment of innovative project effectiveness using the NPV method from venture fund{\textquoteright}s position, and for assessment of innovative project effectiveness using the NPV method from position of a venture fund with application of real options. The developed methodology and computing procedures are tested on a real innovative project in the pharmaceutical industry.",
keywords = "Fuzzy sets, Innovative project, Real options method, Uncertainty, Venture financing",
author = "Alexander Baranov and Elena Muzyko and Victor Pavlov",
note = "Funding Information: This research was financially supported by the Russian Foundation for Basic Research (RFBR) (Grant NO. 15-06-06914). Publisher Copyright: {\textcopyright} 2018, Springer International Publishing AG.; International Economics Conference on Emerging Issues in the Global Economy, IECS 2017 ; Conference date: 01-01-2018",
year = "2018",
doi = "10.1007/978-3-319-71876-7_3",
language = "English",
isbn = "978-3-319-71875-0",
series = "Springer Proceedings in Business and Economics",
publisher = "Springer Science and Business Media B.V.",
pages = "23--33",
editor = "M{\u a}rginean, {Silvia Cristina} and Claudia Ogrean and Ramona Or{\u a}ștean",
booktitle = "Emerging Issues in the Global Economy - 2017 International Economics Conference in Sibiu IECS",
edition = "1",

}

RIS

TY - GEN

T1 - The Development of Methodology for Innovative Project Effectiveness Parameter Estimation in Direction of Fuzzy Set Application

AU - Baranov, Alexander

AU - Muzyko, Elena

AU - Pavlov, Victor

N1 - Funding Information: This research was financially supported by the Russian Foundation for Basic Research (RFBR) (Grant NO. 15-06-06914). Publisher Copyright: © 2018, Springer International Publishing AG.

PY - 2018

Y1 - 2018

N2 - The purpose of the paper is to develop methodology of sustainability and reliability estimation of innovative project effectiveness’ parameters with application of fuzzy sets, as well as the procedure of computation of reliability and sustainability of its fuzzy parameters. The method of fuzzy sets allows to estimate the fluctuation range of innovative project parameters depending on “swinging” its main input (exogenous) parameters, such as market prices of the product, investments expenditures, raw materials costs, etc. In the same time, it becomes possible to assess sustainability of the project effectiveness parameters to variations of its main input parameters, as well as their reliability. The use of fuzzy sets extends the capabilities of real options method’s application to analysis of the effectiveness of investments in innovative projects and also allows to take into account the factor of uncertainty much better, which is especially important in the case of innovations implementation. Fuzzy set assessment of sustainability of forecasted financial flows and financial parameters generated by innovative project is carried out in three directions: for assessment of an innovative project effectiveness in a whole using discounted cash flows method, for assessment of innovative project effectiveness using the NPV method from venture fund’s position, and for assessment of innovative project effectiveness using the NPV method from position of a venture fund with application of real options. The developed methodology and computing procedures are tested on a real innovative project in the pharmaceutical industry.

AB - The purpose of the paper is to develop methodology of sustainability and reliability estimation of innovative project effectiveness’ parameters with application of fuzzy sets, as well as the procedure of computation of reliability and sustainability of its fuzzy parameters. The method of fuzzy sets allows to estimate the fluctuation range of innovative project parameters depending on “swinging” its main input (exogenous) parameters, such as market prices of the product, investments expenditures, raw materials costs, etc. In the same time, it becomes possible to assess sustainability of the project effectiveness parameters to variations of its main input parameters, as well as their reliability. The use of fuzzy sets extends the capabilities of real options method’s application to analysis of the effectiveness of investments in innovative projects and also allows to take into account the factor of uncertainty much better, which is especially important in the case of innovations implementation. Fuzzy set assessment of sustainability of forecasted financial flows and financial parameters generated by innovative project is carried out in three directions: for assessment of an innovative project effectiveness in a whole using discounted cash flows method, for assessment of innovative project effectiveness using the NPV method from venture fund’s position, and for assessment of innovative project effectiveness using the NPV method from position of a venture fund with application of real options. The developed methodology and computing procedures are tested on a real innovative project in the pharmaceutical industry.

KW - Fuzzy sets

KW - Innovative project

KW - Real options method

KW - Uncertainty

KW - Venture financing

UR - http://www.scopus.com/inward/record.url?scp=85086947814&partnerID=8YFLogxK

U2 - 10.1007/978-3-319-71876-7_3

DO - 10.1007/978-3-319-71876-7_3

M3 - Conference contribution

AN - SCOPUS:85086947814

SN - 978-3-319-71875-0

SN - 978-3-319-89113-2

T3 - Springer Proceedings in Business and Economics

SP - 23

EP - 33

BT - Emerging Issues in the Global Economy - 2017 International Economics Conference in Sibiu IECS

A2 - Mărginean, Silvia Cristina

A2 - Ogrean, Claudia

A2 - Orăștean, Ramona

PB - Springer Science and Business Media B.V.

T2 - International Economics Conference on Emerging Issues in the Global Economy, IECS 2017

Y2 - 1 January 2018

ER -

ID: 35589757