Essence and value of enterprises’ business projects
Journal Title: Економіка. Фінанси. Право - Year 2019, Vol 1, Issue
Abstract
Enterprises are the basis of the market economy and one of its most important elements. They play an important role in the economic development of each state; they are places of investment capital concentration; they are centers for the innovative transformations and scientific and technological progress implementation. Business entities are characterized by different production volume, product assortment, market orientation, etc.; they operate in different sectors of the economy. They move from one to the other phase of the business cycle. Despite such diversity, a common thing for businesses is that their activities are closely related to the formation and implementation of various business projects. The effectiveness of such business projects in modern conditions is an important precondition for the effectiveness of the companies’ production and economic activities in general. The historical perspective of the interpretation of the concept “project” content is considered, as well as the main definitions of this concept in the scientific literature are presented. It has been established that the concept of “project” was most often used in the technical field and was identified mostly with the documentation of the particular object. Nowadays, the scope of the formation and implementation of various types of projects has significantly expanded including the economics and management direction, too. It is proved that the concept of “project” is considered in many aspects in the literature: as a type of activity, as a set of certain actions, as a process, as a management tool, as an operating document, etc. Different definitions of this concept, on the one hand, contradict each other, but on the other complement the meaning of this notion. According to the results of the research, the business project concept is proposed to be interpreted as a set of coordinated, purposeful actions in the business, having a one-time nature, limited by the resource provision, relatively separate from the current operational activities of the company and are aimed at obtaining pre-determined results. Thus, the concept of a “business project” is proposed to be interpreted from the standpoint of the International Project Management Association, taking into account the conditions under which certain activities can be named a project (one-time nature – the implementation of a unique set of actions; purposefulness – the focus on achieving the identified results; relative separation from the current operational activity of the company; limited resource provision; structural isolation – a business project is a separate organizational structure of the enterprise). There are a number of other features of enterprises’ business projects, namely: the purpose and objectives of each project; the need to have certain resources in a particular amount; the date of commencement of the project implementation and its completion or achievement of certain interim results; the need for initial investment.
Authors and Affiliations
Rostyslav Zenoviiovych Budynskyi
Keywords
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