A Human Capital Simulation Model in Innovation Projects

Abstract. The main aspects of three concepts––human capital, innovation projects, and simulation modeling––are considered, and a simulation model is proposed to describe the role of human capital in innovation projects. This high-level abstraction model is intended to study the role of the social component in the organizational structure of an innovation project in a general context (at the level of an economic sector, an enterprise, or part of an enterprise). It is treated primarily as a tool for tracking the dynamics of projects considering the state of human capital of the system. The model consists of two main components, namely, a basic simulation model in system dynamics terms and an agent-based component of the model describing human capital dynamics. The model is a conceptual tool that requires calibration and refinement when being implemented in a particular organization.

Keywords: simulation modeling, system dynamics, agent-based approach, human capital, innovation projects.

Acknowledgments. This work was supported by the Ministry of Science and Higher Education of the Russian Federation, contract no. 075-03-2024-004 of January 17, 2024.