UNLOCKING THE POTENTIAL OF PROJECT MANAGEMENT IN HUMAN CAPITAL MANAGEMENT: ADVANCING SUSTAINABLE DEVELOPMENT GOALS IN THE ERA OF THE DIGITAL BEHAVIORAL ECONOMY

Анотація

The article focuses on the problem of preserving and developing human capital in the conditions of war and digital transformation. The need for a project-based approach to human resource management is substantiated for Ukraine to achieve the sustainable development goals. The importance and priority of human capital management for achieving the sustainable development goals under the influence of digitalization and the spread of behavioral economic trends is proven. The focus is on the impacts of the loss of intellectual resources on the economic, social, educational, and demographic parameters of sustainable development, and the challenges and risks associated with population migration, deterioration of the quality of education and health, and the reduction of labor potential in the labor market are outlined. A dual approach to human capital management is proposed: from the side of public authorities ‒ considering the population as a whole, and from the side of business ‒ considering it as a human resource. Hypotheses are put forward about the effectiveness of using project management tools in human capital management, which allow developing a new strategic model of its development under the conditions of digitalization and the spread of digital economy trends. Special attention is paid to the feasibility of using project management principles in human capital management, such as flexibility, phased implementation, transparency, adaptability to change, and human-centeredness. The research conducted is interdisciplinary and focused on the practical application of the results obtained for the formation of state policies of human-centeredness and enterprise development strategies focused on the interests and needs of employees. A study of the behavioral aspects of youth economic activity conducted in 2022 revealed a high level of their anxiety about the state of their own economic security, a lack of inclination toward financial savings, and a reluctance to save on meeting daily needs. The use of project management tools in HR management as a tool for preserving and developing human capital, with a focus on the economic needs and interests of employees, is proposed: flexible schedules, online formats, clearly defined KPI, and a bonus system to stimulate professional achievements. It is proven that systematic and human-centered human capital management based on project management and in line with the principles of sustainable development, behavioral economics, and social justice is key to overcoming the demographic crisis, restoring the country’s economy, and ensuring its strategic competitiveness on the global stage. The feasibility of using project management as a tool for adapting management science and practice to modern challenges ‒ particularly the digitalization of economic relations and the shift in patterns of economic behavior ‒ is substantiated. Emphasis is placed on the importance of such features of project management as transparent communication, digital literacy, cross-functional teams, and the use of digital technologies in HR management and national- level human capital governance.

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