FORMATION OF THE INNOVATIVE AND STRATEGIC PROJECT MANAGEMENT SYSTEM: INTERNATIONAL EXPERIENCE AND THE REALITIES OF AZERBAIJAN

Abstract

In the context of modern globalization, the effective management of innovative and strategically significant projects plays a crucial role in enhancing economic development and strengthening national competitiveness. This article examines the formation of a management system for innovative and strategic projects through a comparative analysis of international experience and the realities of Azerbaijan. The research methodology is based on a review of scientific literature, analysis of statistical indicators, and comparison of empirical findings. International evidence demonstrates that advanced project management systems, including portfolio management and Project Management Offices (PMOs), significantly contribute to the successful implementation of strategic objectives. Such management models ensure not only technical efficiency but also support long-term sustainability and the development of an innovation-oriented organizational culture. The analysis conducted within the Azerbaijani context indicates that although certain progress has been achieved in terms of human resources and institutional frameworks, significant gaps remain in the application of international standards and in the full implementation of innovative management practices. Considering the current situation, aligning the national project management system with international best practices and strengthening the regulatory and institutional framework represent important priorities. The findings suggest that the successful development of an innovative and strategic project management system in Azerbaijan requires substantial progress in human capital development, the adoption of digital management tools, and integration with global governance frameworks.