The present article is devoted to the issues of applying design thinking and other creative technologies destined at the development of innovational solutions of the existing tasks and restrictions in project management processes. The authors are developing a conceptual framework by defining the focus of application of creative technologies in the project management practice as well as are proposing a custom approach to the application of the relevant instruments based on the project type and its lifecycle phases. The findings are made on the basis of fundamentals of project management, strategic management and design thinking methodology, as well as the authors’ own applied studies and experience in project and program management. The proposed approach allows broadening theoretical learnings on the project lifecycle stages from the perspective of creating and developing business innovations, as well as on the project manager role and skills, which in turn helps to resolve complex issues and controversies connected to the application of the existing project management methods in the organizational development and innovation product creation processes.