Improving Methods for Evaluating the Effectiveness of Projects

The development of the economy directly depends on the development of its subjects in the person of companies whose success depends on the development and implementation of projects that bring the greatest benefit from investments. To measure the benefits of investing in a project, it is customary to evaluate the effectiveness of the project. For local projects, the efficiency assessment is based solely on the assessment of commercial efficiency. This approach does not allow taking into account the impact of the project on competitiveness and does not take into account non-financial and external factors of the company's value. The paper proposes a method for qualitatively and quantitatively evaluating the effectiveness of projects developed on the basis of the General Electric - McKinsey matrix. The method allows you to take into account not only the financial performance of the project, but also to evaluate the project according to qualitative criteria proposed in accordance with cost and competitiveness factors. In addition, the paper provides recommendations for finalizing the project in order to increase the assessment of its effectiveness. The proposed recommendations constitute the practical significance of the project. The scientific novelty lies in the 18 proposed qualitative criteria for evaluating the effectiveness of the project, the implementation of three of which is mandatory for the implementation of the project