The Power of Transnational Projects

The process of globalization has put organizations in the position of facing daily challenges in a dynamic and complex environment. Each organization strives to respond to market demands and maintain competitiveness in its field of business in the best possible way, which has led to the popularization of the use of project management in a wide variety of areas. This paper provides insight into the functioning of transnational projects which represent inseparable part of a transnational program. It gives an insight into the way of formation, what are their specifics, what is required to access a transnational project, as well as the basic characteristics that a project must fulfill in order to be called transnational. Transnational projects represent the cooperation of several partner countries in one region that co-finance a project with the financial assistance of European Union funds (ERDF, IPA). The specifics of transnational projects will be explained through the example of Danube transnational programme.