The thesis is devoted to the solution of theoretical and conceptual and methodological issues of improving the effectiveness of investment management at the enterprises of the public utilities area. Improved interpretation of definitions "public utilities", “business model of management at enterprises of public utilities’, "investment management" (including the management of the effectiveness of investments carried out), form the main advantages of such business entities. The classification of utilities in four classification features has been expanded according to the level of subordination to the local self-government body, public utilities are distributed according to the type of local self-government body that created them; by field of activity, carries out the division of utilities according to the functions that they perform; according to the financing system, carries out the division of utilities according to the sources of their financing; as well as the last fourth classification feature - for the service subject. A model of a strategic planning management system was built, a distinctive feature of which is the implementation of a structural and logical sequence of stages of the formation of an enterprise development strategy based on the use of the theory of portfolio investment of Markovitz and involves the formulation of a strategic development concept, the definition of a development strategy with the identification of problems and indicators of the BSC, goal setting and ensuring consistency, mandatory identification and assessment of the investment portfolio, ultimately allows you to plan operational activities, carry out further implementation and monitor results. Based on the economic indicators, using the correlation regression analysis, the method of selection of the most significant factors to improve the efficiency of utilities are proposed such as: the coefficient of depreciation of fixed assets, labor productivity of 1 employee, the coefficient of quick liquidity (solvency.). The found coefficients of elasticity Еj show that with the growth of the depreciation of fixed assets, the unprofitability of the main operating activities of the studied enterprises increases. An institutional mechanism has been developed to attract financial resources to the modernization of the public infrastructure, which includes investment, institutional, methodological and regulatory components and is a system of interaction between economic and financial methods, ways expressed in the organization, planning, stimulating the effective use of investment resources. A comprehensive methodological approach to the levels of riskiness of investment projects at the state level has been proposed. It has been proved that in connection with the transition of public utilities in the context of decentralization to self-sufficiency, the latter need to use the established practice of risk and uncertainty assessment methodology when evaluating investment projects formed by them, which is carried out by private sector entities using either expert assessments or mathematical statistics methods. The methodology for assessing the effectiveness of investment projects, taking into account the specifics of utility infrastructure enterprises, namely, assessing the social significance of investment projects taking into account the specifics of utility infrastructure enterprises and evaluating the effectiveness of participation in the project, was supplemented by an organizational and economic mechanism for implementing an investment project for utilities, which is used at the second stage and is built on economic and organizational components and related indicators. In turn, the methodology for assessing the commercial efficiency of investment projects has been improved in terms of calculating the influence of internal factors on the level of investment attractiveness of utilities using the taxonomy method. The theoretical and conceptual foundations for the formation of a business model of management at enterprises of public utilities have been developed.
