“Smart Technologies” in Project Management: Rationalization of Decision Making or a Source of New Risks for Information Security

Abstract

Purpose: The purpose of this paper is to substantiate the perspectives of project management based on “smart technologies” and to compile an algorithm of this process. Design/Methodology/Approach: For determining the ratio of pros and cons of “smart technologies” application in project management, the method of regression analysis is used. The influence of automatization (rationalization) of decision making (and cybersecurity) on the rate of economic growth and the innovation index in 2020 are evaluated. The research objects are 12 countries which transnational corporations are the largest and the most successful in 2020, according to Fortune (2020), being in the top 50 of the “Global 500” ranking. Findings: It is substantiated that “smart technologies” are in high demand in project management. The achieved rationalization of decision making is more important than new risk of information security, which, however, should be taken into account and reduced. Risks are present at each stage of the algorithm of project management with the help of “smart technologies”, but they are also peculiar for all these stages at any other technological mode, though with a different form. Originality/Value: It is proved that the risk component of project management remains unchanged during implementation of “smart technologies”, but the approach to risk management changes – as the risks acquire the cybernetic nature, instead of the social one. The developed algorithm of project management in the conditions of Industry 4.0 shows perspective “smart technologies” for each stage of this process and explains its logic.