This article is devoted to the study of the impact of project risks on business value. This is due to the fact that in the modern world as a criterion for the effectiveness of management decisions and, above all, in relation to investment, the market value of the enterprise is used. However, as shown by the situational analysis of investment activity of industrial enterprises associated with the implementation of projects of development and updating of production and technological systems, this type of value does not take into account the individual capabilities, interests and risks of not only the investor, but also the enterprise itself. Active investment activity aimed at increasing the market value of the business and improving market prospects in the future, on the contrary, does not... lead to the expected result. The timely solution of this problem is to use management tools focused on the investment value of the enterprise, as the concept of management of production processes based on the investment value is of interest as the main paradigm of enterprise development.