Considering investment risk in the mechanism for selecting mining-metallurgical waste refining investment projects

One of the most actual investment problems is the problem of ferrous and nonferrous metallurgy waste refining. But existing investment attractiveness appraising methods have several vital drawbacks, not allowing to perform an effective selection of investment projects, considering specifics of mining-metallurgical waste refining. To overcome these drawbacks the developed approach includes modified criterions choice for projects estimation and created mechanism for investment projects selection. The criterion set has included either quantitative or qualitative criterions and has been formed the way, allowing to consider non-systematic part of investment risk. Besides, the future investment projects competitiveness determination is fulfilled in the selection mechanism to allow considering market conjuncture changes during projects realization period as systematic part of investment risk. The assignment of preferences and user preferences structure construction, which finalize the selection mechanism, are based on the feasible goals theory to decrease the amount of information, required from a decision-maker, and to accelerate and ease the most effective projects distinguishing process on account of using criterions tradeoff curves graphic visualization. The multicriteria investment projects estimation model, based on the selection mechanism created, has been realized in Microsoft Visual Studio 6 environment. This model allows to perform the optimal investment projects selection for financing and to decrease considerably the subjectivity of a projects assessment process. Due to this the investment risk is considered in the conditions of uncertainty of a decision making by mining-metallurgical waste refining investment projects.