Project approach in an anti-crisis management system of financial sustainability of industrial enterprise

  • Svіtlana Bondarenko The National Defence University of Ukraine named after Ivan Cherniakhovskyi https://orcid.org/0000-0002-1687-1172
  • Olena Makoveieva Odessa Regional Institute of Public Administration of the National Academy of Public Administration under the President of Ukraine https://orcid.org/0000-0003-2726-915X
  • Anatolii Polishchuk National Technical University of Ukraine, Kyiv Polytechnic Institute named after Igor Sikorsky https://orcid.org/0000-0003-0558-6728
  • Mykhailo Mosin National Technical University of Ukraine, Kyiv Polytechnic Institute named after Igor Sikorsky
Keywords: financial stability, anti-crisis management system of the enterprise, project approach, industrial enterprise

Abstract

The main aspects of the project approach in the system of crisis management of financial stability of an industrial enterprise are considered in the article. Definitely main factors and signs of the crisis based on the diagnosis of indicators of the financial condition of the industrial enterprise. It is established that the assessment of financial stability is one of the priority tasks in the diagnosis of crisis enterprises, the condition of which is characterized by an increased probability of bankruptcy. The forecast value of the coefficient of financial stability, which can be used to develop a financial strategy of the enterprise or corrective anti-crisis management decisions, is determined. The article proposes a method of implementing a project approach in crisis management of the enterprise. In anti-crisis management of financial stability it is expedient to apply the project approach that will give the chance to implement measures for achievement of the concrete purpose, to coordinate actions of all divisions of the enterprise; to forecast in time and in expenses the project decision of a crisis situation according to the set criteria of quality of performance of works. In addition, the project approach has all the features of the crisis management system: a team of specialists is formed to perform the tasks of crisis management; strategies for increasing the competitiveness of the enterprise are developed; optimal ways (options) of realization of system of anti-crisis measures for the purpose of increase of stability of functioning of the enterprise are made. The advantages of the project approach in crisis management of financial stability are: assessment of the current state of the enterprise; use of the company's own resources in order to reduce the cost of implementing a system of anti-crisis measures; clear delineation and definition of personal (team) responsibilities and powers; systematic approaches to determining the phenomena and factors of the crisis, as well as to the development and implementation of anti-crisis programs, due to the involvement of specialists and managers of different levels and areas of activity, in accordance with the sources of threats; increasing control over the expenditure of funds and resources aimed at anti-crisis measures, the introduction of methods for their more effective use; more effective use of the time factor in the analysis of the situation and the implementation of anti-crisis measures; qualitative increase of the level of systems and methods of internal communications. The result of this approach should be overcoming the crisis (with the subsequent transition to operational management of the organization), assessing the effectiveness of crisis measures (actions, projects) and, if necessary, the introduction of a permanent monitoring system for crisis phenomena in the organization. introduction of methods of their more effective use; more effective use of the time factor in the analysis of the situation and the implementation of anti-crisis measures; qualitative increase of the level of systems and methods of internal communications. The result of this approach should be overcoming the crisis (with the subsequent transition to operational management of the organization), assessing the effectiveness of crisis measures (actions, projects) and, if necessary, the introduction of a permanent monitoring system for crisis phenomena in the organization. introduction of methods of their more effective use; more effective use of the time factor in the analysis of the situation and the implementation of anti-crisis measures; qualitative increase of the level of systems and methods of internal communications. The result of this approach should be overcoming the crisis (with the subsequent transition to operational management of the organization), assessing the effectiveness of crisis measures (actions, projects) and, if necessary, the introduction of a permanent monitoring system for crisis phenomena in the organization.

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Author Biographies

Svіtlana Bondarenko , The National Defence University of Ukraine named after Ivan Cherniakhovskyi

Doctor of Economics, Leading Researcher at the Defence Management Education and Training Center

Olena Makoveieva , Odessa Regional Institute of Public Administration of the National Academy of Public Administration under the President of Ukraine

Associate professor at the Organizations Management Department

Anatolii Polishchuk , National Technical University of Ukraine, Kyiv Polytechnic Institute named after Igor Sikorsky

PhD student of the Department of International Economics

Mykhailo Mosin , National Technical University of Ukraine, Kyiv Polytechnic Institute named after Igor Sikorsky

PhD student of the Department of International Economics

References

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Published
2020-04-30
How to Cite
Bondarenko , S., Makoveieva , O., Polishchuk , A., & Mosin , M. (2020). Project approach in an anti-crisis management system of financial sustainability of industrial enterprise. Social Development and Security, 10(2), 90-104. https://doi.org/10.33445/sds.2020.10.2.10
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Articles

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