In order to manage innovating projects, he paper offers a method for estimating the degree by which a manufacturing and technological system (ECO -system) has been converted during the operation cycle into an economic system. The operation cycle of a manufacturing and technological system is seen as a circular integrated set of vectors of cash or cash equivalent flows arising as a result of converting technological processes into products in the form of technological stages or end products with

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... market cost. The operation cycle consists of two contours formed by five vectors of cash equivalent flows. The first contour is a right-angled triangle of vectors that is formed by: the vector of direct technological operation costs, the vector of tangible and intangible assets and their summation being the vector of manufacturing capital. The second contour is also a right-angled triangle of vectors formed by: the vector of direct technological operation costs, the vector of net income and their summation being the vector of sales value. The modules and directions of all vectors are variables. The level of converting technological processes into money equivalent flows has been offered to estimate by the conversion coefficients. The ideal manufacturing and technological system has some upper limits of the conversion coefficients of the operation cycle. Namely, the vector of sales value divided by the vector of a manufacturing capital and the vector of tangible and intangible assets divided by the net income vector are equal to one. The graphical interpretation of an ideal operation cycle is an equilateral triangle. In the operation cycle of a real manufacturing and technological system the conversion coefficients are less than one. Every criterion in this integrated set may change simultaneously when any innovation is implemented in a manufacturing and technological system.