JEL classification: O32, Q16
Introduction. The reflection of the interrelationships and orderliness of the processes during the implementation of projects is a general methodology of project management, which has so far acquired a world-class definition as an acceptable and appropriate management standard. For business entities, the implementation of individual innovation projects or their portfolios is relevant. At the macroeconomic level, it is advisable to consider programs that are a set of interrelated projects by objectives, where the implementation of each of them determines the possibility of implementing the other. In this aspect, programs often acquire a socio-economic character of development, where projects within are aimed at both commercial gain and the solution of social problems.
The purpose of the article is to substantiate the process of portfolio management of innovative projects in the agricultural sector of the economy and the characteristics of the main tools within the relevant management mechanism.
Results. Special features of portfolio, program and project management are highlighted. A comparison of existing approaches to justifying the choice of project portfolio is made. The key processes to be implemented during the implementation of the portfolio of innovative projects are highlighted. The most common procedures for substantiating the portfolio of innovative projects are summarized. Based on the generalization, taking into account the specifics of agro-innovative projects, a sequence of processes for substantiating the project portfolio is proposed. The peculiarities of this decomposition are the definition of its components: the processes of project identification in the portfolio, categorization of components, component evaluation, selection of components, determination of time characteristics and budget development, as well as portfolio balancing. For each of the outlined processes, the appropriate inputs, outputs and support tools are listed. The principle of effective portfolio management of innovative projects is also highlighted and their content is explained.
Keywords: innovations, innovative projects, innovation management, tools of innovation implementation, innovative development of the agricultural sector.
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The article was received 08.01.2021