Музыко Елена Игоревна

The paper discusses the issues of ecological house-building, its advantages and prospects of development. The analysis of commercial and public efficiency of investment project “The smart ecohouse” is carried out. The possible forms of government support of the project are offered. The most effective tools for the support of ecological house-building are identified. The conclusion about the necessity of inclusion of ecological house-building into the Concept of development of housing construction of the city as a promising direction that requires the support of the city authorities is made.

The paper discusses new method for evaluation of innovative projects' effectiveness the real options method. Conceptual description of real options theory is given. Two basic approaches to the interpretation of the economic essence of the concept "risk" are identified. The differences in consideration of risk and uncertainty in the traditional method of evaluating the effectiveness of investment projects (NPV method) and in real options theory are determined. In the options theory with the increase in price volatility of the underlying asset the value of the option goes up. In the analysis using NPV method, the increase in uncertainty makes the project less attractive. Thus, there is a contradiction between the consideration of risk and uncertainty in the NPV method and in real options theory.

The paper discusses new methods for evaluation of innovative projects’ effectiveness. Opportunities for application of real options theory to analysis of investment and innovative projects are analyzed. Conceptual description of real options theory is given. The paper analyzes spheres of application of this theory. The opportunities of usage of real options method for evaluation of innovative projects with venture investing are investigated and clarified.