The Factors Affecting Innovative Activities and Cost Management

Abstract

The article presents general and specific factors that influence the generation and management of facility construction cost. It is suggested to create a national information system for costs formation in construction that would correspond to the current requirements of a dynamic requirements. Efficiency of the proposed methods shall be ensured by increased accuracy of estimates at the phase of investment decision taking for any public capital investments, from direct budgetary expenditure to extra-budgetary funds resources, subsidies and grants.