MOLIYAVIY BOSHQARUV VA LOYIHALARNI BOSHQARISH INTEGRATSIYASI: LOYIHA XARAJATLARI, MOLIYALASHTIRISH QARORLARI VA LOYIHA NATIJADORLIGI O‘RTASIDAGI BOG‘LIQLIKNING KONTSEPTUAL TAHLILI

Abstract

This article conceptually examines the integration of financial management and project management, specifically the relationship among project cost management, financing decisions (debt - equity structure), and project performance. The study aims to develop a conceptual model explaining how financial management practices affect project and organizational performance in project-based organizations, with particular attention to investment projects financed through commercial banks in Uzbekistan. Drawing on international and local scholarly literature, the paper examines the relationship among project cost management, capital structure theory, and project financing practice. A conceptual-analytical approach combined with critical literature synthesis was used as the methodology. The analysis results in a conceptual model and three theorygrounded propositions describing the relationship among the quality of project cost planning, financing structure, and project performance. The author’s original contribution is to treat financial management as an integral, strategic component of project management rather than a separate back-office function. The scientific novelty is the first conceptual systematization of this relationship within the context of Uzbekistan’s investment project financing system. The conclusions and recommendations carry practical value for project-based organizations and commercial banks.