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PROJECT PORTFOLIO OPTIMIZATION AS A PART OF STRATEGY IMPLEMENTATION PROCESS IN SMALL AND MEDIUM-SIZED ENTERPRISES: A METHODOLOGY OF THE SELECTION OF PROJECTS WITH THE AIM TO BALANCE STRATEGY, RISK AND PERFORMANCE

Emil Vacík, Miroslav Špaček, Jiří Fotr, Lukáš Kracík

Project Portfolio Management (PPM) deals with the coordination and control of multiple projects that pursue the same strategic goals and compete for the same resources, whereby managers prioritize among projects to achieve strategic benefits. PPM deals with simultaneously managing multiple projects and includes defining values, specifying priorities, solving conflicts between projects as well as defining organizational structure and the rules of its functions (Spradlin & Kutoloski, 1999). To provide maximum value to the organization, the portfolio must contain a balance of project types and risk levels as well as limit the number of projects to ensure that all projects can be resourced effectively (Killen, Hunt, & Kleinschmidt, 2008). According to numerous studies, project portfolio management is currently applied in the practice of nearly all modern enterprises (Miguel, 2006).
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Production Planning Model Using REA Ontology

Dominik Vymětal, Miroslav Hučka, František Huňka, Josef Kašík

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