Estimation|appraisal| of economic efficiency of innovations, related to perfection|triming| of technique, technology|technicology|, organization and management of operations
From the point of view of the possible|possibly| approach to the efficiency estimation|appraisal|, innovations can be divided into two groups. The first group includes innovations, which are characterized by the|describe| stable|high-stability| enough size|value| of annually obtained|receive| useful|benefit| results and the short period of investment|enclosure| of facilities for their realization (to a year). It is possible to include|switch| into this group such measures|step|, as replacement and modernization of technological equipment|EQP|, robotization| of production, etc.
Innovations, which have the sharp|hairpin| variations of the annually provided|secure| useful|benefit| results and investment|enclosure| of facilities for their realization during a number of years,|Hecht| belong to the second|second-| group. For example|eg|, the introduction|introducting| of the flexible production system, reconstruction of a workshop|shopfloor| (enterprise), developing|elaboration| and mastering new|firsttime| products|production|.
The innovations of the first|first-run| group can be ranged on the basis of indicators|metric|, calculated during |calculate|during one year. The innovation of the second|second-| group can be ranged in order of efficiency decreasing|neaping| only on the basis of calculation|computation| of indicators|metric| for|after| their whole life cycle that is for the period from the moment of |origin development|elaboration| beginning to the end of the use|utillizing|.
It is necessary to underline that the economic evaluation of innovations of both groups is substantially complicated under conditions of high inflation rates.
The economic evaluation of innovations of the first|first-run| group includes:
The choice of the best variant from a number|flakey| of alternative ones;
Determining|definition| indicators|metric| of the effect and efficiency of the chosen|repackage| best variant as compared with the base one (operating at the enterprise).
The choice of the best variant of innovation out of a number of alternative ones can be made on the basis of the criterion of minimum of reduced expenses (Exp) in a somewhat changed kind:
Exp = CE + Em + CapInv – Estcost , (12.2)
where CE are current expenses calculated per a unit of products;
Em is the coefficient of minimum efficiency of capital investments;
CapInv are specific capital investments;
Estcost is cost estimation of accompanying useful results (ecological, social and economic) calculated per a unit of production.
The variant according to which the minimum of reduced (economic) expenses calculated per a unit of products or the equivalent annual volume of products is achieved is the best variant, because it has the shortest term of capital investments payback, not exceeding maximally possible payback term Tm, the size of which is inversely proportional to the coefficient Em:
Tm = 1/ Em, (12.3)
The economic effect from the introduction|introducting| of innovations of the first|first-run| group can be calculated|calculate| as the provided|secure| economy on the reduced expenses (with taking into account the cost estimation|appraisal| of accompanying results) or profit increase|come|, which remains at the disposal of the enterprise.
Integral|integrated| economic effect of technological innovations of the second|second-| group, characterized|describe| by the unevenness of obtaining useful|benefit| results and a long period of investing (reconstruction of a workshop|shopfloor|, introduction|introducting| of the flexible automated|computer-managed| line etc.), is calculated according to the formula:
E = 
( 
Ct + Ect – It – CapExpt – Taxt + Lt)* 
t, (12.4)
where Ctis saving current expenses during year t, which isprovided as a result of the introduction of innovations;
Ect is cost estimation of accompanying useful results of innovations in year t;
Itare current expenses in year t, related to innovations implementation (without the account of depreciation for renovation);
CapЕxpt are capital costs in year t;
Taxtis the tax for the profit in year t from the sum of saving current expenses;
Ltis liquidating balance, return from realization of fixed assets, which are withdrawn in year t,
T is the life cycle of the innovation, year;
t| is the coefficient|ratio| of bringing (reducing)|coersion| non simultaneous| expenses and results.