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The article deals with the design and development of scientific tools for evaluating investment projects in the Arctic zone of Russia, taking into account the specific features of their application in the region. The necessity is substantiated and a mechanism is proposed for a comprehensive assessment of the effectiveness of investment projects implemented in the Arctic zone to select the highest priority projects, which is based on specific indicators that allow taking into account the peculiarities of the development of the Arctic regions. The system of component indicators for evaluating the effectiveness of projects is proposed. It is based on federal methods and supplemented with special indicators characterizing the regions of the Arctic zone, which allows describing the economic, social, environmental components of efficiency, ensuring state income, regional development, contribution to the national project and the country’s defence capability. The recommended set of indicators can be adjusted, which will not affect the developed algorithm for assessing the priority of projects. The authors developed a mechanism for determining the comparative effectiveness of projects based on their cost characteristics and expert assessments that allow determining the developed set of indicators. Experts’ assessments in the form of interval numbers are used for calculations. An algorithm for such an assessment of the effectiveness of development projects in the Arctic regions is proposed, including calculation of indicators that make up the assessment of the comparative effectiveness of the projects, determination of the integral assessment of such projects, as well as calculation of the comparative effectiveness of the analyzed projects. A numerical example is given, which makes possible to implement the developed mechanism for calculating the comparative effectiveness of projects in the Arctic zone of the country, taking into account environmental, social, ecological and other factors. The scientific results of the study include the development of economic and mathematical tools for ranking and selecting projects in assessing comparative efficiency in the industrial development of the Arctic. An approach to accounting and evaluating ethnological aspects in determining the effectiveness of projects in the Arctic is proposed.
Potravny et al. (Wed,) studied this question.