Digital transformation is a highly topical task for many companies. Implementation and use of breakthrough technologies are an essential part of this process. Nowadays the terms “innovation” and “information technologies (IT)” are treated as equals insofar as IT is exactly what can provide execution of innovative strategy and the digital transformation of a company’s business.
      Due to the high speed of IT market growth and the emergence of new technologies, companies usually implement them without justified selection and prioritization, and this leads to the high rate of failed innovative IT projects. Often such projects fail to result in commercially successful products or services by which a company can distinguish itself from competitors to consumers. Still the most widespread approach for evaluation and ranking of innovative IT projects concentrates on the expected financial outcomes without due attention to strategic alignment of a project.
      This research suggests an approach for ranking innovative IT projects in big companies. The approach entails complex evaluation of expected results of projects on the strategic, environmental, organizational and technological domains of a company. This approach is based on a modified Tornyatzky–Fleischer IT innovation adoption model.
      During the first stage of research, the term and definition of innovation have been discussed as well as features of innovative IT projects. The second stage is dedicated to comparison analysis of evaluation approaches for innovative projects as well as to choosing an IT adoption model for further adaptation. On the third stage approbation of the method developed been carried out in one of the Russian big IT/internet companies. The results of two-year period of approach approbation have proved its suitability and suggested the prospects for further development.