Innovative activity of a company is of fundamental importance for increasing its value. However, not all innovation activities lead to the growth of business value, often you can get a different, negative result, not growth, but destruction of value. Therefore, innovation activity should be effective, in this case it is possible to be sure that the introduction of innovations will lead to sustainable development of the enterprise, growth of its value, increase of its competitive position. The purpose of this article is to analyze the existing methods of assessing the innovation activity of the enterprise to choose a method and prove its advantages. The article reveals the problems faced by managers of enterprises that create systems for assessing the effectiveness of innovation activity. Considering the key principles of effective innovation management, the article emphasizes the principles of measurability and effectiveness of innovation. The main reasons for the creation of a system of indicators (metrics) that assess the effectiveness of innovation activity of the enterprise are revealed. The refusal to use the indicator patent and its characteristics in assessing the introduction of innovations is justified. The article recommends the use of the Balanced Scorecard (BSC) method for assessing the effectiveness of innovation activity of the enterprise.