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In the process of economical shifting to an innova tive type of development, implementation of investment and innovation project s, a considerable attention is paid to project ЕКОНОМІКА ТА УПРАВЛІННЯ ІНШИМИ ВИДАМИ ДІЯЛЬНОСТІ ISSN 2409–0948. 2019. No 1 (19) 173 management. Project management, like change managem ent, is a well-developed field of management theory. Project management implies the a pplic tion of certain approaches, the most common are functional and process approaches. The p urpose of the article is to consider the application of project management in the context of interaction with functional and process approaches. Critical analysis of scientific views o n functional and process management is carried out. It is proved that, in spite of all the advanta ges of the process approach, it is the functional specialization that provides the least costly execu tion of individual operations within the business process of the project. The result of both functional and process approaches is the simultaneous design of the organizational structure (functional areas) and the order of interaction within this structure (processes). The interaction and combination of functional and process approaches from the point of view of project manage ment are highlighted. Due to this, a comparative analysis has been made on the criteria: orientation approaches, the interaction of structural units, the principle of constructing the organizational structure, the object of management, the concentration of management, the ef ficiency of the units, the information exchange, the speed of the adoption of managerial d ecisions. It is emphasized that in project management considerable attention is paid to effect ive coordination of work of separate units and strengthening of constructive interaction betwe n functional units involved in the project. Thus, it has been proved that the synergy between f unctional, process and project approaches ensure manageability, efficiency in decision-making and increasing the efficiency of business processes.

naukovij vìsnik ìvano-frankìvsʹkogo nacìonalʹnogo tehnìčnogo unìversitetu nafti ì gazu. serìâ "ekonomìka ta upravlìnnâ v naftovìj ì gazovìj promislovostì"/naukovij vìsnik ìvano-frankìvsʹkogo nacìonalʹnogo tehnìčnogo unìversitetu nafti ì gazu. serìâ ekonomìka ta upravlìnnâ v naftovìj ì gazovìj promislovostì

PROJECT MANAGEMENT IN BUSINESS: APPLICATION IN THE CONTEXT OF INTERACTION WITH FUNCTIONAL AND PROCESSING APPROACHES