Procedure of Innovative Project Selecting

Innovation project
Affair, activity, arrangement that means a complex of actions that provide attainment of some purposes
System of organizational, legislative, accounting and financial documents that are needed to reach some aims
Process of innovation activity’s implementation

The main stages of Innovative Project
Study
Analysis
Pre-project
Selection and agreement of place
Ecological basing
Examination
Preliminary investment decision

Classification of innovation projects
By the subject and content structure and by the character of innovation activity:
Research
Scientific and technical
That are connected with modernization and updating of production apparatus
Projects of systematic updating of enterprise

By the period of realization:
Long-term
Medium-term
Short-term
By the type of innovation:
New product
New method of production
New market
New origin of resources
New structure of management

Methods of innovation project’s selection
The main methodic idea of selection is a step-by-step structurization analysis, valuation, orientation and concordance of members’ interest, who develop, produce and replicate innovations to the final economic result of their assimilation and using. The main consecution of the activities is next:

Step 1. Analysis of the activities sphere :
Establishment of the “narrow places” Forming of problem situation Concretizing of the development’s problem Possible ways of finding a solution Finding of correspond new perspective objects
Step 2. Set of base perspective objects :
Forming of base perspective objects’ set Forming of requirements and limit economic conditions of profitability in the process of their development and replication
Step 3. list of consumers’ qualities :
Forming of list Composition of native and foreign analogues Definition of order on the development and production of new object’s necessity

Step 4. Potential creator :
Definition of potential creator
Preparing and giving the list of analysis, features of consumer’s qualities, priority of consumer’s qualities from the receiving the most profit’s point of view
Step 5 :
Potential creator forms a list of indicators, that characterizes a technical level of perspective object. He generates the set of available variants, of it’s development and production. For each available variant determines an expected suit (vector) of consumers’ qualities, value of development and producing of innovation, the level of risk (probability of success final)
Step 6 :
Received creator’s variants and their valuations and their valuations are used to form valuation of comparative profit while replication of innovation, than preferable variant with the calculation of the biggest profit and risk’s factor is being chosen

Step 7. :
The low level of price is formed for the chosen variant, also coordinated conditions of profits’ redistribution between creator producer and consumer are formed
Step 8. :
Admissible revenue's valuations on the development of innovation are formed
Step 9. :
The received indicators and valuations are the base of signing a contract between creator and customer

The framework for project selection and evaluation
The selection of projects depends on a range of factors, which need to be addressed
Most important is the quality of pre-settings given by the programming document
But other parameters of the selection process and the assessment method cannot be
neglected

Programming document and project selection: relation and demands

Project and program level mirror similar tasks
Programs relate to the regional and local situation
adequate projects supposed to be selected, which efficiently contribute to fulfilling objectives and aims of the program

Basic elements of selection procedures
Two kinds of elements should be distinguished: the external elements provided to the applicants and the internal elements for the selection in itself
the external elements:
Open call for proposals, published in relevant journals
Specification the objectives
Revealing the eligibility criteria as minimum requirements for the participation
Setting a dead line
the provision of a structure for project proposals
technical details
the approach chosen
the effects expected
financial details
management structure

Pitfalls and dilemmas of a selection procedure
1. Selection of indicators
Scoring systems Compilation of indicators towards an index
4. Ranking of proposals
5. Benchmarking
6. Final selection and external consistency

Philosophy of the appraisal and project selection procedures

Interactive Project Selection Procedure IPSP
The basic elements of the IPSP were developed in an evaluation study on the Sustainability
The selection procedure concentrates on the features of transparency, participation, openness and acceptance by the group members
A key element represents the role of a skilled and experienced team
of moderators and facilitators in order to conduct the involved group process
This type of assisted, decision-making copes with subjectivity in a deliberated manner with regard to the aggregation and discussion of individual appraisals

Sample Project
Selection
Decision Tree