Nataliya Hryhorska

Enterprise development is dependent on the implementation of projects that contribute to improving economic performance. Considering this the need to apply the economic and management approach to the definition of effective projects under risks of reduced enterprise profitability due to the uncertain economic environment is justified. The study used scientific abstraction, formalization, causal relationship, time series analysis, variational range-based standardization, parameter minimization according to maximum and minimum values. The approach is created to evaluate the profitability dynamics of the production, management and finance subsystems of the enterprise, to monitor the deviations in the established corridor of their sufficient levels, to systematically control for the dynamics of the enterprise development to form the effective project portfolio, as well as to manage the risk reduction for projects that are inappropriate for development. The approach approbation, using Ukrainian machine-building enterprises as an example, has found enterprises with the level of development dynamics lower than the corridor determined. This indicates the risks of implementing inefficient projects and the need for systematic adjustment of their portfolio. The enterprises whose business operations belong to the fourth technological paradigm should implement projects to increase the profitability of the production and management subsystems, and those from the fifth paradigm should execute projects for the rise in the finance subsystem profitability.