Economic Affairs
  • Year: 2024
  • Volume: 69
  • Issue: 1

Financial and economic tools of project management in public sector

  • Author:
  • Oksana Petrenko1, Igor Britchenko2,*, Viktoriia Filippova3, Oleh Serniak4, Anatolii Putintsev5, Iryna Serniak6
  • Total Page Count: 15
  • Published Online: Feb 18, 2025
  • Page Number: 593 to 607

1Department of Applied Economics, Entrepreneurship and Public Administration, National Technical University “Dnipro Polytechnika”, Dmytra Yavornytskoho Avenue, Dnipro, Ukraine

2Institute of Law, Economics and Administration, University of the National Education Commission, Podchorazych Str., Krakow, Poland

3Department of Public Administration and Local Self-Government, Kherson National Technical University, Instytutska Str., Khmelnytskyi, Ukraine

4Department of Public Management and Administration, Ivano-Frankivsk National Technical University of Oil and Gas, Embankment Street im. Vasyl Stefanyk, Ivano-Frankivsk, Ukraine

5Department of Finance and Industry, V.S. Vernadskii Taurida National University, J. Mccain Str., Kyiev, Ukraine

6Department of International Economic Relations, Vasyl Stefanyk Precarpathian National University, Shevchenka Street, Ivano-Frankivsk, Ukraine

*Corresponding author: scientistua@ukr.net (ORCID ID: 0000-0002-9196-8740)

Online published on 18 February, 2025.

Abstract

The article examines the introduction of project management as a result of the implementation of administrative reforms in modern states based on the management paradigm of New Public Management and New Public Governance. Based on both experts’ opinions and a number of cases from different counties, it is shown that the development of such elements of new public management as focus on achieving results, monitoring of quantitative and qualitative performance indicators, budget savings, creative organizational culture, became possible thanks to a set of economic and strategic tools that characterize project management, especially PMBoK. The expediency of a large-scale transition to professional management of public projects through the use of the generally recognized PMBoK standard, as well as the “living” Agile project methodology, is substantiated.

⓿ The article is devoted to analyzing the development of the theory and practice of project activities in the public administration system.

⓿ The obtained results demonstrated the highest level of expedience of synergetic combining of institutional and instrumental constituents of project management in public administration (public sector).

⓿ The research findings can be used to improve public administration based on government projects.

Keywords

Public administration, Project management, New Public Management, Public governance, PMBoK