Modern approaches to the definition and classification of innovation projects in the conditions of economic transformation

The article presents the results of the research aimed at developing modern approaches to the definition and classification of innovation projects that meet the challenges and dynamics of the modern global economy. The analysis has shown that traditional formulations are often limited to the technological aspect and do not take into account the multifaceted nature of innovation projects, their long-term social, economic and environmental consequences, as well as a high degree of risks. Based on the identified shortcomings, a new definition is proposed. An innovation project is interpreted as a systemic process involving the creation, implementation and use of new or improved technologies, products or services aimed at ensuring sustainable development and achieving significant results for the economy, society and the environment. As one of the key achievements of the study, an extended classification of innovation projects has been developed that takes into account their diversity, complexity and specific characteristics. It covers approaches such as systemic, project-based, digital, environmental, socially-oriented, regional, and risk management approaches. Each of the categories allows analyzing and adapting projects taking into account their scale, objectives, technologies, risk level and specifics of the regional context. The article emphasizes the need to move away from outdated models and towards integrative methods of innovation management. The updated definition and classification create a basis for improving the effectiveness of projects, their adaptation to dynamic conditions and strengthening their role in addressing global challenges. The results of the study form a practical and theoretical basis for the development of strategies that ensure sustainable development and progress in a rapidly changing world.