Design of innovative processes

Subject. The article deals with allocation of scarce resources, problems of forecasting, risk management. Objectives. The aim is to search for optimal methods of detailed elaboration of strategic objectives, forms of joint participation of scientific and industrial organizations in innovation activities. Methods. The study employs methods of comparative, structural, and logical analysis are applied. Results. Innovative design should take into account the uncertainty of the economic situation. A number of sections of innovation project should be developed in several versions, based on forecasts for the development of target markets. Conclusions. New knowledge is produced out only through the use of human cognitive abilities.