Innovative project: example, development, risks and performance evaluation. Innovative projects at school or in business

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

An innovative project is a complex system of actions aimed at achieving certain goals in the development of science and technology. They are interconnected by the executors of the activities, deadlines and resources. An innovation program is a complex of interconnected innovative projects, as well as projects that are aimed at supporting activities in this area. At the moment, innovative projects in preschool educational institutions are gaining popularity, examples of which inspire the creation of new educational programs.

Level of scientific and technical significance

Innovative projects, as well as technical solutions and ideas that they implement, can have the following levels of scientific and technical significance:

• modernization (basic technology does not undergo drastic changes);
• innovative (the design of the new product is significantlydifferent from before);
• leading (the design was created thanks to advanced technical solutions);
• pioneer level (new technologies and materials appear that did not exist before).

The level of significance of an innovative project determines the complexity, scale, features of promoting the results of the process and the composition of the performers. This will affect the content of project management.

Classification of innovative projects

Innovative projects can be classified as follows:

1. By the nature of the goals:

• final;
• intermediate.

2. By implementation period:

• short-term;
• mid-term;
• long-term.

3. According to the needs that the project satisfies. They may focus on creating new or satisfying existing needs.

4. By type of innovation (creation of a new or improved product, reorganization of the management structure, etc.).

5. According to the degree of decisions made, they can have the following character:

• signature;
• regional;
• industry;
• international federal.

6. By the scale of the tasks performed:

• monoprojects are projects that are carried out by one company within strict financial and time frames, and have a clear innovative goal;
• multi-projects are complex programs aimed at achieving complex goals;
• megaprojects are multi-purpose programs that combine a number ofmulti-projects that are connected by one difficult goal.

Each project goes through certain stages of its development from inception to completion. Their combination forms its life cycle. It is customary to divide it into phases, them into stages, and then into stages. They differ depending on the work organization system and the field of activity.

Development of an innovative project

When creating innovative projects, they go through the stage of development, implementation and completion. It is worth paying attention to the main stages:

• shaping an idea;
• opportunity research;
• preparation of documentation for the conclusion of the contract;
• preparation of documentation for the design of the project;
• program implementation work;
• monitoring of economic indicators.

At the development stage, attention is paid to the success and effectiveness of the project. At the same time, the details of its existence at this moment are not too important. For them, novelty, competitiveness, license protection and the presence of a patent are especially important. In addition, innovative projects require investment in business improvement.

Implementation of innovative projects

Most organizations use internal and external sources of funding at the same time. Internal sources are their own funds, which are mainly formed from the sale of assets or are sums insured and depreciation. External funding sources include borrowed and borrowed funds, as well as funding from the regional or federal budget.

Risks

Innovation projects are the most risky investment programs. For this reason, their creators should realistically assess their capabilities. The most attractive for investments will be programs aimed at promoting ready-made innovative products. Projects related to the promotion of new technologies are characterized by increased risk, since it is much more difficult for them to create a marketing concept.

Problems with funding arise if the project has an unfinished stage of exploratory research. When they are carried out, there is a high probability of obtaining a negative result.

Risk classification

The risks of an innovative project are uncertainties that depend on the decisions made, and their implementation is carried out after some time. Risk assessment is part of entrepreneurial decisions. To classify them, it is advisable to apply the block principle, which provides for the distribution of risks by categories, groups, types, etc. The risks of innovative projects can be classified as follows:

• As predictable as possible: foreseen and unforeseen.
• According to the presence of intentional creation.
• By detection time.
• According to the place of discovery.
• By detection method.
• For reasons of occurrence.
• According to the culpritsappearances.
• By duration.
• If possible insurance.
• According to the methods of eliminating the consequences.
• By stages of the technological process.
• According to production conditions.
• At set prices.

To assess the risk of an innovative project, it is required to determine the degree of research work, the compliance of the program with the company's market strategy, as well as marketing. Classification, assessment and study of risks will be required to manage them.

Evaluation of the effectiveness of an innovative project

The effectiveness of a project of this type from the point of view of its participants can be determined by the corresponding indicators of their participation. It is worth considering its assessment by an innovative university, which is responsible for the implementation of the project, and also attracts outside participants and additional funding. Evaluation of the effectiveness of an innovative project is based on the following principles:

• apply prices for services, resources, goods that are provided by the project or installed on the market;
• cash flows must be calculated in the same currencies provided by the program for payment for products and purchase of resources, after which they will be converted into rubles at the current rate;
• calculations must take into account the profit from financial and investment activities, as well as apply the project financing scheme;
• necessary to take into account contributions to additional funds and income received from them.

In the process of calculating the performance indicators of the participation of the company, it is worth taking into accountattention to cash, regardless of whether they are own or borrowed. Loan payments will be called outflows, and borrowed funds will be called inflows.

Example of an innovative project taking into account efficiency risks

It is worth considering the development of an innovative project, taking into account the evaluation of its effectiveness. As an example, you can take the example of the project of EcoZdrav LLC. The company operates in Krasnoyarsk. The project is aimed at the manufacture and sale of reagentless and cartridgeless units, which are designed for the treatment of drinking and waste water. At the moment, they have no analogues.

Preliminary market research showed that the need for these units is quite large. According to estimates, it is 25,000 pieces, which is only a tenth of the possible buyers. Based on this information, the company plans to produce units in the amount of 10 thousand units per year, which will be quite reasonable.

To evaluate the effectiveness, you need to find the net present value (NPV) using the price growth rate and the sum of the weighted average cost of capital (WACC). The following formula applies:

WACC=(E/K)y+(D/K)b(1-t), where E – equity, D – debt capital, K – amount of invested capital, y - expected return on equity, b - estimated return on debt capital, t - income tax rate.

For this company, the indicator will be:

WACC=(188/2000)0.72+(1812/2000)0.28(1-0.2)=0.270624

If we take the inflation rate of 7%, which was set at the time of project development, we can get a discount factor of 0, 340624.

According to the plan, the profit volumes will amount to 448,060 rubles. in the first year, 3229925 rubles. - in the second, and 3919425 rubles. - in the third. Taking them into account, it is necessary to calculate the indicators on the basis of which the effectiveness of the innovative project will be assessed.

Net present value calculated over the next three years (NPV):

NPV1=448060/1.340624- 2000000=- 1665782.5

NPV2=448060/1.340624+ 3229925/(1.340624)^2 - 2000000=131343.21

Return on Investment Index (PI):

PI=(448060/1.340624+ 3229925/〖(1.340624)〗^2)/2000000=2131343, 21/2000000=1.0656

Internal rate of return (IRR):

IRR=r_1+NPV(r_1)/(NPV(r_1)- NPV(r_2)) (r_2-r_1)

The cost of capital r1 is taken as 20%.

Then IRR=0.3+255859, 8/(255859, 8- 131343, 21) (0.340624-0.3)=0.383475

It can be concluded that the calculated rate of return exceeds the value of the cost of capital. Thus, the implementation of this innovative project will be appropriate.

Innovative business projects

Today, innovative business projects are successfully conquering the world market. This is due to the fact that the modern consumer is not so easy to please. If a company repeats its competitors, it will eventually lose its popularity. For this reason, any business needs innovation. Bettereverything, if these are truly innovative projects, and not updating old technologies, goods or services.

The world community is actively changing due to the development of the scientific and technical sphere. From this point of view, business requires attention. In addition, innovation must be recognized by society. If they do not accept the developed innovative project, an example of which was demonstrated to consumers, it will not bring any benefit.

The benefits of innovation in business

It is worth noting that innovation in business requires significant intellectual, financial and labor costs. In addition, you will have to invest not only in the project, but also in the company's employees. Innovations in entrepreneurial activity can be technical, managerial, administrative, economic and organizational.

Computerization can be named among the main innovative projects of this kind. They help create bath databases, carry out calculations using the Internet, use computer programs for work and send emails. In addition, the entrepreneur will be able to create a commercial website or online store.

Thus, projects of this kind in business can improve the procedure for development, provision of services, sales, etc. In addition, the process will be significantly simplified and will take less time. This means that the business will have a greater profitability.

Innovative projectsat school

Parents often face the question of where to send their child to a regular school, gymnasium and lyceum. Most of them are identified quickly, but the concept of "innovative school" is rarely familiar to them. Despite this, all modern educational institutions can be called such. This is because most curricula are designed with innovation in mind.

It is not at all necessary to send a child to an innovative school, because an innovative pedagogical project is also being implemented in a traditional institution. But still, they will focus on the formation of children's ability to independently acquire knowledge.

The use of innovative technologies in the school allows you to individually select a training program for each child, which has a positive effect on his abilities. In addition, children will have more zeal for learning, as they can be interested. What is an innovative project at school? An example is the use of various programs in the process of education. With their help, you can positively influence the acquisition and assimilation of knowledge.

Innovation project: example

In order to finally understand what an innovative project is, it is worth considering a specific example. Electrolux Design Lab held a student competition in China in 2013. On it, a graduate of the Animation Institute Qing Ji presented his project, which was aimed at improving human sleep. He developed a cell cushion in the form of a green mass. She is capableprovide not only optimal rest, but also protection against harmful bacteria. In this case, the innovation project, the example of which is presented, involves the invention of a completely new and complex technology.

The pillow contains aloe cells that absorb carbon monoxide and release oxygen. For this reason, people who sleep on it do not have breathing problems. Aloe cells are able to eliminate any harmful bacteria around them. This innovative project, an example of which was described, became successful, but if you want to create something new, you can prepare a program that is not so complicated. It may contain an update to existing technology.