Abstract: the paper is devoted to the study of the characteristics of the risk process and the effectiveness of innovative and investment projects of the company and their impact on the formation of its business value. The relevance is due to the fact that due to the successful implementation of investment and innovative projects, enterprises form the basis for the development of their business, which is reflected in its value. The paper describes the theoretical aspects of the cost approach of company management. The risk management features of innovation and investment projects are described. The problems and risks of innovation and investment projects, as well as ways to solve them, are highlighted. Financial models are proposed, the purpose of which is to improve the process of the cost-based approach to company management through achieving the effectiveness of its projects.
Keywords: investments, innovative projects, investment projects, cost management approach, cost estimation, company value, project risks, project efficiency