Substantiation of projects that account for risk in the resource-saving technological changes at enterprises

Authors

DOI:

https://doi.org/10.15587/1729-4061.2018.149942

Keywords:

project, resource-saving technological changes, risk, modeling of technological changes, prices for resources

Abstract

The purpose of the study was to model the investment risk of implementation of resource-saving technological changes at enterprises and to develop a method for consideration of risk for the substantiation of projects for introducing resource-saving technologies. Risk management is an important condition for increasing the expediency of technological change activities. In turn, the correct consideration of a risk factor can increase the confidence of owners of enterprises in the expediency of introduction of resource-saving technologies, which will increase the scale of such implementation.

We determined principles, an information base, and a sequence of assessment of the potential of resource-saving technological changes at enterprises.

We modeled an influence of prices for production resources, for which enterprises acquire industrial resources, on the effectiveness of resource-saving technologies implementation. The simulation results showed that the level of such efficiency is quite high only in a certain range of prices for resources. In this connection, we obtained expressions for determining the price ranges for a certain type of resource, which correspond to the three main options for the application of existing technological process. Such options are: to continue operation of the existing technology; to terminate its operation with the replacement of a new resource-saving technology; to stop using the existing technology without replacing it with a new one.

The study substantiates expediency of consideration of a risk factor in substantiation of projects of resource-saving technological changes at enterprises by calculation of a value of the maximum acceptable amount of investments in such an introduction. It proposes to determine the maximum acceptable amount of investments based on a constructed set of scenarios of values of those project indicators that have a low level of predictability. There is no need to substantiate a value of a discount rate, which often has a high degree of subjectivity, for this approach to a risk factor.

Application of the developed method of substantiation of projects for resource-saving technological changes will increase reasonableness of relevant investment decisions due to the comprehensive consideration of a risk factor in the practice of enterprises

Author Biographies

Valentyn Lesinskyi, Yuriy Fedkovych Chernivtsi National University Kotsiubynskoho str., 2, Chernivtsi, Ukraine, 58012

PhD, Assistant

Department of Radio Engineering and Information Security

Olexandr Yemelyanov, Lviv Polytechnic National University S. Bandery str., 12, Lviv, Ukraine, 79013

PhD, Associate Professor

Department of Business Economics and Investment

Oksana Zarytska, Lviv Polytechnic National University S. Bandery str., 12, Lviv, Ukraine, 79013

PhD, Associate Professor

Department of Business Economics and Investment

Anastasiya Symak, Lviv Polytechnic National University S. Bandery str., 12, Lviv, Ukraine, 79013

PhD, Associate Professor

Department of Business Economics and Investment

Orest Koleshchuk, Lviv Polytechnic National University S. Bandery str., 12, Lviv, Ukraine, 79013

PhD, Associate Professor

Department of Business Economics and Investment

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Published

2018-12-10

How to Cite

Lesinskyi, V., Yemelyanov, O., Zarytska, O., Symak, A., & Koleshchuk, O. (2018). Substantiation of projects that account for risk in the resource-saving technological changes at enterprises. Eastern-European Journal of Enterprise Technologies, 6(1 (96), 6–16. https://doi.org/10.15587/1729-4061.2018.149942

Issue

Section

Engineering technological systems