METHOD OF VALUE-ORIENTED ANTI-RISK FUNCTION-COST ANALYSIS OF THE PORTFOLIOS OF SCIENCE-BASED PROJECTS OF ENTERPRISES

Abstract

Currently, enhancing competitiveness and innovation attractiveness are the most important pri-orities of national enterprises implementing science-based projects. These problems cannot be solved without project management of the enterprise and further cost analysis of its science-based projects and project portfolios. The analysis of recent publications shows that function-cost analysis has not yet been applied in portfolio management, particularly for science-based project portfolios. Hence, the article aims to develop a method of value-oriented anti-risk function-cost analysis of science-based projects portfolios. The article analyzes basic approaches to project budgeting and existing methods of function-cost analysis. It is established that creation of a high-potential portfolio of science-based projects requires taking into account the values of portfolio projects and portfolios themselves. The existing anti-risk method of function-cost analysis has been improved with value components; its application range has been expanded with project portfolios. The article provides a diagram of the method of function-cost analysis and an algorithm for its introduction. The proposed method provides the following: studying cost allocation by the works of science-based portfolio projects; revealing the most expensive project works with the purpose of their immediate improvement; cost modeling of portfolio project works; establishing the share of overhead costs in the cost of the result of a science-based project portfolio with a high accuracy; establishing and substantiating the norms on the work performed by enterprise units; providing time reserves for the re-sponse to risky events and monetary reserves to eliminate their impact on the project works; determin-ing the value of each portfolio project to establish its importance, priority and introduce corrective management actions affecting formation of the planned portfolio budget and its limitations; considering value as a function for a project portfolio, ignoring low-value projects and incorporating projects with the highest integral value into portfolios; determining the time, cost and risks of implementation of portfolio project to allow for the response to risky events and prearrange appropriate funds; performing integrated modeling of a science-based project portfolio, considering its cost, time of implementation, risks and value, while establishing portfolio structure with optimal indicators.