Network theory in project’s communication management

Nowadays project management gains more importance for the success of business in an ever-changing environment. The key to project success is communication system with the stakeholders in the social network of the project. Social networks are social actors and the links between them about resources exchange, goals achievement, the development of social capital. In this study, the communication management in projects is based on the theory of social networks. As a result of the study of the parameters and characteristics of the project management network, it was found that the delegation of responsibility, trust, position in the network (hub, authoritative source, centrality), characteristics of communication channels (closeness, distance) are interrelated with the characteristics of nodes and projects success in terms of time costs, quality, budgets. This study made it possible to formulate recommendations on communication management in a project-based company’s social networks for developing the quality of project networks and improving the efficiency of project performance.