A human capital simulation model in innovation projects

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.