A stage by stage procedure for project analysis, evaluation, and selection

A stage by stage selection mechanism for innovation and investment projects is considered. Instead of the traditional comparison based on the construction of an additive or maltiplicative convolution function for numerous criteria to assess projects competing for resources, a sequential comparison of characteristics at the stages of their preparation is proposed. The procedure is consistent with the logic of target projects development and implementation, making it possible to significantly reduce the risk level during the analysis and selection of the best projects from those reviewed.