Standardization of project management in the context of digitalization

The article discusses new Project Management Institute standards for a project team’s interaction with stakeholders during value-added product creation project development. The purpose of the study is to substantiate the main advantages of the standard and its use in Russia. General scientific methods and systematic and integrated approaches have been used. The novelty of the research is to substantiate the impact of digital technologies on the project management process in various fields of activity that fundamentally changes the approach to product development and to understanding customer’s and stakeholders’ requirements. The timeliness and necessity of using standardization and digitalization methods in order to improve project execution quality using a single database has been shown. The study concludes that access to the database significantly increases the potential of project teams working with projects of high uncertainty by adapting them to customer requirements when developing a product with added value. The results obtained of new standards implementation have been tested in VLIBOR Systems LLC. Conclusions on interaction change with stakeholders that increased the team members’ confidence in the correctness of their actions have been made. It has contributed to team building, increased adaptability and emotional component to achieve success.