MODERN CONCEPT OF INTERACTION BETWEEN PROJECT MANAGEMENT AND INNOVATION MANAGEMENT

To achieve long-term competitiveness, companies need a continuous process of innovation. The innovative activity of companies is conditioned by the realities and conditions of the modern high-tech economy, and through the introduction of innovations and innovative processes, the efficiency of companies and the economy as a whole increase. Innovation today is mostly driven by projects that require divergent thinking, a willingness to devote resources to projects that are likely to fail, and this seems incompatible with the project management mindset of adhering to strict standards accepted by most corporate cultures. To address this issue, the article considers the possibility of integrating project management and innovation management methods. A comparative analysis of traditional and flexible approaches to project management is carried out, and the features of innovative projects are highlighted. It is shown that it is extremely important to find the best match between the characteristics of an innovative project and the approach to project management. The results confirm the need to adapt project management tools to the challenges of innovative development. The research conducted by the authors has confirmed the relevance and necessity of further study and elaboration of problematic issues of effective management of innovative projects.