PROJECT MANAGEMENT IN THE FUNCTION OF LOCAL ECONOMIC DEVELOPMENT

European University Brčko District, Bosnia and Herzegovina
Bosnia and Herzegovina

The College of Service Business – Sokolac, Republic of Srpska, Bosnia and Herzegovina
Bosnia and Herzegovina


Abstract

Project management involves the application of all necessary skills, techniques and tools to achieve the goals of a particular project. The importance of project management is particularly evident in the context of local economic development, which often depends on the efficiency of the implementation of specific projects. A particular local community has its own characteristic specific conditions that stimulate or slow down the economic development of the community. The aim of this paper is to determine that the implementation of specific projects adapted to the specifics of the local community should stimulate economic development. The hypothesis to be proven is that project management is of great importance for local economic development. By applying analysis methods, the phases that make up the process of planning local economic development can be seen and the importance of applying project management in each of these phases can be determined. The result of applying adequate project management in a particular local community should be the efficient use of all objective advantages and opportunities as well as the mitigation of weaknesses and threats to economic development. Bearing in mind all of the above, this paper should clearly indicate how the topic of project management and planning and implementation of local economic development can be efficiently and effectively connected.

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References


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