Management of Territorial Economic Development: Project Approach

The urgency of the research topic is due to the need for rapid response of regions to changing environmental processes in the context of the spread of digitalization and active introduction of innovative technologies. It has been determined that in the modern market economy project management becomes a necessary factor in ensuring the competitive advantage of many regions. The purpose of the article is to substantiate the need for a project approach to the management of economic development of territories. Based on the use of methods of analysis, synthesis, scientific abstraction and logical generalization, trends in the evolutionary development of project management have been identified. It has been substantiated that project management forms advantages and unique competencies that are necessary for highly efficient and successful functioning of territories in a competitive market environment, in the realities of the new economic situation, which is characterized by significant speeds and dynamics of change in certain areas. It has been proved that one of the new alternative directions in the development of project management is flexible project management. It is determined that at the level of regional management the project approach can be used both for the implementation of individual projects and in the implementation of targeted programs. It has been proved that an integral part of the successful implementation of regional projects is the formation of a system of training methods and tools of project management. The foreign experience of project management application at the regional level has been analyzed and three key models have been revealed: american, european, canadian. The key principles of using the project approach to the management of economic development of territories have been identified, namely: systemicity, integration, balance, dynamism, decomposition, competence. The practical significance lies in identifying the features of the project approach to regional development management, which must be taken into account: openness and publicity of regional projects; increased control over the targeted use of local budget funds for regional projects; the complexity of assessing the effectiveness