Problems of selection and usage of innovative tools for international projects management in the context of foreign economic relations expanding

Abstract

Introduction. Today, international project management trends are reflected in the increasing importance and significance of resource and process planning, as a well-thought-out and well-founded plan that can take into account all potential risks and challenges makes it possible to respond to them in a timely manner in the process of implementing a business idea. The most important factors that influence the choice of innovative management tools by the management of international projects are their understanding of the functionality of this tool, the appropriateness of its application in the project, and the cost of such an innovation. Having studied the works of scientists, it can be argued that such innovative tools are currently reengineering, benchmarking, outsourcing, crowdsourcing and the ICO or initial coin offering technology The purpose of the paper is to highlight the problems of selection and usage of innovative tools for international projects management at company in the context of foreign economic relations expanding and development of recommendations for their solution. Results. As a result of the research, the current problems of the selection and use of innovative international project management tools of company in the conditions of the expansion of foreign economic relations were identified, such as traditional international project management tools characterized by low efficiency in the conditions of the expansion of foreign economic relations and the dependence of financing on international projects from one investor narrows the possibilities of using innovative international project management tools in the conditions of expanding foreign economic relations. As a result of the study, recommended ways to solve problems were given, namely, the use of a crowdsourcing platform to search for and analyze information and technologies for the implementation of international projects of company and the implementation of ICO technology to attract investors to finance international projects. Conclusion. The use of innovative management tools will help the company better implement its project strategy, but too few tools or their incorrect selection, which do not correspond to the expected result of the implementation of the business idea, can negatively affect the company's activities. The involvement of additional tools and their combination with each other allow to analyze projects in more detail and to use less risky solutions by the management of the enterprise. Implementation of these tools allows the company to save basic resources, such as time and money, and effectively implement international projects.