The paper contains analysis of factors suppressing the efficiency of targeted approach with respect to Ukrainian State Targeted Programs on Priority S&T Areas (by results of questioning program managers) and authors' propositions on amendments to the act of Ukraine 'On State Targeted Programs'. The term 'program' has been abused in Ukraine, the title 'program' being applied to any nomenclature of actions irrespective of their relation to the targeted approach, and, consequently, the number of programs in Ukraine, claiming for budgetary funding, has exceeded 200. A detailed account is given of the interview of 19 project managers (who are outstanding scientists), organized by the Center for S&T Potential and Science History Studies of the NAS of Ukraine. (Experts were asked about execution of the budgetary position to the effect of financing the Programs, and all the answers were negative; about the need to extend the mandate of project managers: to entitle managers to suspend/stop funding of a project of the Program, which is proved to be inefficient or not corresponding with the Program objectives, to entitle managers to reallocate funds between projects of the Program in order to have the Program objectives achieved as quicker as possible; about the need to have a reserve fund for each S&T Program. Also, experts expressed their own propositions on enhancing the programs efficiency). On the basis of expert information shortcomings of targeted approach in Ukraine are identified. Propositions on amendments to the Act of Ukraine 'On State Targeted Programs' are made on the basis of in-depth analysis of its selected chapters.