Project Management based on the Principles of Sustainable Development Concept: the Case of KCHR

Nowadays there is a growing popularity of using the project management (PM) in all areas: almost in every organization or region the share of project activities is increasing. Accordingly, there is a need to increase the productivity and achieve the competitive advantages of an organization or a region by introducing new ways of development, one of them is the concept of sustainable development (SD). This study focuses on the development of the methodical applications and recommendations for the implementation of sustainable development principles in project management in case of the Karachay-Cherkess Republic. This study briefly describes the different approaches to the definition of sustainable development principles and their indicators, the definition of project management and best practices implementation of sustainable development programs in the PM. The following scientific methods are used in the study: analysis, comparison, generalization, methods of grouping, classification, methods of statistical and regression analysis. A collection of empirical data is conducted through surveys of the residents of Karachay-Cherkess, moreover the obtained results are analyzed by quantitative and qualitative methods of data processing. In this paper, the author suggests a sustainable development program, which includes main objectives and directions of social, economic and environmental development of the region, the main functions of this program, groups of stakeholders and interaction with them, the organization of working process, indicators, project selection and indicators for assessing the effectiveness of the program. Implementation of the program will significantly modify the processes of project management through evaluation and analysis of projects in the framework of the SD criteria throughout the life cycle of projects. The program will enhance competitiveness of Karachay-Cherkessia in comparing with the other regions of the Russian Federation.