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 conditions of modern economic, environmental, and social challenges. The research aims 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 methodological framework of the study combines general scientific and specialized research methods, including analysis and synthesis, logical generalization, comparative analysis, and graphical methods for presenting research findings. The results of the study substantiate the role of project management in the system of strategic management of an enterprise’s sustainable development, determine its key functions (financial support, risk management, performance monitoring, and portfolio coordination), and characterize the features of implementing 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. The scientific novelty of the study lies in the development of a project management model that ensures the systematic integration of sustainable development principles across all phases of the project life cycle. The practical significance of the proposed approach lies in its applicability for enterprises when making managerial decisions concerning the implementation of projects aimed at achieving sustainable development objectives. Future research should focus on developing methodological tools for evaluating the performance of sustainable development projects and on refining systems of quantitative and qualitative ESG indicators. Keywords: sustainable development, project management, sustainable development strategy, ESG, project financing, risk management.