Consider a compact Lie group G and a closed Lie subgroup H < G. Let M be the set of G-invariant Riemannian metrics on the homogeneous space M = G/H. By studying variational properties of the scalar curvature functional on M, we obtain an existence theorem for solutions to the prescribed Ricci curvature problem on M . To illustrate the applicability of this result, we explore cases where M is a generalised Wallach space and a generalised flag manifold.Keywords: Prescribed Ricci curvature, homogeneous space, generalised Wallach space, generalised flag manifold for some c > 0, where T is a given G-invariant (0, 2)-tensor field. The study of (1.1) in the framework of homogeneous spaces was initiated in [22] and continued in [16]; see also [17,15,11]. It is on the basis of [22] that the first results about the Ricci iteration in the non-Kähler setting were obtained in [23]. These results provided a new approach to uniformisation on homogeneous spaces. Moreover, they led to the discovery of several dynamical properties of the Ricci curvature.Assume the (0, 2)-tensor field T lies in M. As [22, Lemma 2.1] demonstrates, a metric g ∈ M satisfies (1.1) for some c ∈ R if and only if it is (up to scaling) a critical point of the functional S onThis parallels the well-known variational interpretation of the Eisntein equation. Indeed, a metric g ∈ M satisfies Ric g = λg