Abstract:

The formation of the investment program of enterprises under conditions of limited resources is a difficult process. One of the optimization criteria when deciding on the choice of investment projects in the program is to take into account their hierarchical priority. The program includes investment projects with higher efficiency indicators. Previously, to solve this problem, mathematical modeling, optimization models (normative), containing expressions with algebraic operations that could be maximized or minimized under certain confinements, were some of the apparatus used. But, as the authors' research has shown, the most accurate and acceptable approach to assessing the project priorities is the method of analyzing hierarchies. The selected method uses a multi-criteria approach to assessing the project priorities. The formation of the investment program of enterprises, taking into account the hierarchical project priorities in the context of limited resources, cannot be carried out on the basis of one, arbitrarily complex, formal criterion. Investment projects of the program, claiming priority, should be analyzed step by step on the basis of multilateral expertise, and the decision should be made taking into account the many different characteristics of the project and its participants, which are quantitative or qualitative. The paper analyzes the choice of an investment project for an industrial enterprise in the conditions of limited resources.