Quantitative Methods of Selecting a Tool for Project Management in the Financial Sector

Abstract

The relevance of the study is due to the difficulties inherent in the selection of tools designed for effective project management in the financial sector, as well as the increasing competition in the financial services market. Within the framework of this article, the features of the choice of a project management tool in the financial sector based on the use of quantitative methods that make the decision-making process significantly more meaningful and effective are disclosed.The aim of the study is to develop elements of a methodology for quantitative analysis of alternative tools, including recommendations on the choice of alternatives and criteria for their analysis, as well as the complex use of various methods to justify the final choice of an instrument.The research materials and methods reflected in the methodology of quantitative analysis of alternative project management tools in the financial sphere, and implemented in the course of the research, are based on supplementing the results obtained through the use of the classical basic level method – the method of geometric averages by methods of advanced level decision theory – the method of eigenvalues and vectors, as well as the ideal point method. In order to comprehensively analyze the project implementation support systems on the market and their instrumental capabilities, a twostage methodology is proposed in the research process, including both qualitative and quantitative assessment of available alternatives. The formalized assessment of the functionality of the pre-selected tools made it possible to justify the choice of the most preferred alternative. Particular attention is paid to the issues of attracting additional information to reduce uncertainty in the considered choice situation. Results. The main result of the conducted research was the scheme of substantiation of the optimal choice of a tool includes the construction of a variety of alternatives – tools of domestic and foreign development, the construction of a variety of criteria and the attraction of additional information to form a hierarchy of criteria, as well as a consistent quantitative assessment of each selected alternative according to all the criteria under consideration. The constructed set of alternatives includes the tools of Jira Software, Asana, Bitrix24, Megaplan, GanttPro, YouGile and Planfix. The set of criteria is limited to the six most significant criteria: “Convenience of communication within the framework of the tool”; “Price of the tool”; “Level of complexity of the tool”; “Integration with external services”; “Functionality of the tool”; “Convenience and simplicity of the tool interface”. The presented system of criteria takes into account the main functional and instrumental characteristics necessary for systems to support the implementation of projects in the financial sector at the level of small and medium-sized businesses.Conclusion. The content of the article can be useful for improving decision-making processes during technological renewal and digitalization of projects in the financial sphere of small and medium-sized businesses in the context of the implementation of import substitution programs, the development of optimal choice mechanisms under several criteria. The described structure of the applied problem of multi-criteria selection can be used to update the content of such professionally significant academic disciplines for higher economic school as “Decision Theory” and “Instrumental methods in Economics”.