Dokument A Modern Approach for Project Portfolio Optimization in Small and Medium-Sized Enterprises

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BFuP Nr. 5 vom 15.10.2019 Seite 550

A Modern Approach for Project Portfolio Optimization in Small and Medium-Sized Enterprises

prof. Ing. Emil Vacík, Ph.D., Lukáš Kracík, M.Sc., Ph.D., University of West Bohemia in Pilsen, prof. Ing. Jiří Fotr, CSc. und doc. Ing. Miroslav Špaček, Ph.D., University of Economics in Prague

The basic goal of Project Portfolio Management (PPM) is to establish optimal portfolios of projects. One possible method for composing investment project portfolios is using optimization models. The approach to project portfolio optimization discussed in this paper shows the effectiveness of the methodology used for normative model development that significantly contributes to meeting strategic goals and managing risks, thus increasing company financial performance and shareholder value development. The proposed methodology of optimum portfolio composition pays takes resource constraints into consideration and is closely tied to management practice in SMEs. The possibility to create a transparent basis for management decisions for effective project portfolio implementation in the environment of SMEs is exemplified in a case study.

1 Introduction

When planning their future development, most contemporary firms put emphasis on strategic management processes. This is mainly visible in the segment of SMEs, where firms over extended periods are unable to grasp the principles of strategic management and transform them into action. In order to remain durable and competitive and manage their ...

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