Project management as a tool for ensuring sustainable development of enterprises

Abstract

The article examines the role of project management as a tool for ensuring sustainable development of an enterprise in condition of modern economic, environmental and social challenges. The aim of the research is to substantiate the role of project management in ensuring enterprise sustainable development and to develop an approach for integrating economic, environmental, and social dimensions into project management throughout the entire project life cycle. The results of the study substantiate the role of project management in the system of strategic management of sustainable development of an enterprise, to determine its key functions (financial support, risk management, performance monitoring and portfolio coordination) and to characterize the features of the implementation of sustainable development projects. The differences between traditional and sustainable project management are systematized, and the possibilities of using the PRiSM methodology and the P5 concept for integrating ESG principles into the project management process are investigated. A project management model is proposed to ensure the sustainable development of an enterprise, which combines the principles of portfolio management, the PRiSM/P5 methodology and continuous monitoring of economic, environmental and social results.