Innovative projects: what is it

Modern life is characterized by dynamism, high competition. In such conditions, there is a constant need for improvement in all spheres of human activity. Hence innovative projects are born, representing a complex, risky, expensive and lengthy process.

Innovative projects are in their development several stages and on all of them projects have a high degree of uncertainty. A very important point is the introduction of innovations in production, the adoption of these innovations by the market. Many innovative projects show already at the initial stage of development results promising success, but then under certain technical and technological conditions are closed. Innovative development is determined by the variety of tasks and objectives. Innovative projects differ in the level of their solution, the subject-content structure, the nature of the goals and the period of implementation, as well as the type of innovation.

In the implementation of innovative activities involved several participants: customers and investors, designers and suppliers, performers and scientific and technical experts, managers and project team.

The management cycle is represented by two stages: the development of an innovative project and the management of the implementation of an innovative project. Management of innovative projects plays a special role in the chain of all types of work. Management considers the process during which management decisions related to the definition of objectives, organizational structure, planning and monitoring of the implementation of innovative measures in the light of the implementation of an innovative idea are made and implemented.

The goal of innovative projects is to make a profit. But the development and the whole cycle of works, up to the final introduction of projects into production, requires investments, which require a carefully worked out business plan to attract. The investor risks his own means, for him the prospects of the idea are important.

In order to remove the investor's concerns, the business plan of the innovation project includes basic information about the project, in the form of presentation of a business idea, a description of the enterprise, the investment object and management system, a description of the business environment, organizational, financial and legal plans, in the form of a feasibility study Rationale, description of risks and insurance.

Business ideas can be built on the basis of their own research and development, the needs and requirements of consumers, products of competitors, opinions of employees, various publications. The business plan must necessarily reflect the scope of application of the new product, there is room for a list of functional features and attractiveness factors. We mean the values, the possibilities of purchasing the product, the price for it, the functional, environmental quality, the product brand, its reliability and service life. The novelty of the product is a special requirement from the position of having analogues in the market, the competitive advantages of the product, its market novelty, a new scope of application.