Project Management of Companies’ Financial Recovery

Abstract

The article is devoted to preventive measures for the financial recovery of companies under a threat of bankruptcy. These measures are not regulated by legislation or are only partially regulated and, as a rule, are aimed at obtaining a unique result – the restoration of the company's activities. This makes it possible to use project management technologies. The study classifies companies that may need financial recovery projects, identifies restructuring procedures known in both developed and developing countries, shows the heterogeneity of financial recovery projects and their differences depending on various determinants. Special attention is paid to the specific features of such projects’ management: in particular, the existence of stabilization phase, the necessity of organizing successful negotiations and mediation during the implementation of projects, the development of other intangible components of the success of financial recovery projects along with the search for new financing, postponement of payments on old debts.