Scientific journal
European Journal of Natural History
ISSN 2073-4972


Boriskova L.A., Glebova O.V.
High risk and high cost innovation projects, as a rule, is carried out by several participants. In this connection the investors need to have a model of the future coordination of the participants´ behavior within the framework of the project, where the contract relationships are reflected in. The contract drawn between the innovation project participants allows the sides not only to organize their activity in the best way during a prolonged period, but also is a condition for using its performance different defence mechanisms coming to the corresponding partner´s constraint to fulfill the contracted liabilities.

The contract crude structure being a model of the teamwork consists of two parts:

1.The activity desired parameters description. Within this part the sides negotiate the following points of their contribution towards the innovation project:

  • Investment outlay;
  • Current production expenditures;
  • Educt distribution.

2.The description of the mechanism of the desired results distributions and their interactions. In the given part of the contract the sides negotiates the forms, sizes and terms of the beginning of the participants´ responsibility for their obligations violation. At that, risk events can also be classified according the following three moments: investment outlay, current production expenditures and educt distribution.

Considering the realization variants of the innovation project on creation of new product line samples in terms of a scenary approach the following variants of the projects´ development have been detached:

  1. A new product development is financed by an enterprise individually; all the rights to the construction documentation belong to the consumer after its being paid.
  2. The consumer and performer cofinance the project; however, all the rights belong to the consumer on the payment results.
  3. The consumer and performer cofinance the project and are joint proprietors of the rights to its results. The development contractor gets a fixed profit margin from the realization of the output produced according to the worked out by him construction documentation.
  4. The consumer and performer cofinance the project and are joint proprietors of the rights to its results. The development contractor gets a fixed percentage of the profit.

In every of the mentioned above cases the innovation project participants consider: the conditions of investment and current project finance, the desired results: the profit margin got by every side and the ownership of the work results.

Let us notice, that every variant from the mentioned above ones of the project development can be significantly expanded, when taking into account the time aspect: nonrecurrent or stagewise investment project finance, single or time-consuming getting results from the project implementation.

Thus, taking into account a long term character of innovation projects and multivariance of their realization, the major task for their participants is the consideration of all possible conditions for the project implementation and the choice of the most effective one both for all the participants as a whole and every one individually.

The article is admitted to the II International Scientific Conference "Projects management"; Spain (Costa Brava), July 8-15, 2007г.; came to the editorial office on 27.06.07