A PRINCIPAL COMPONENT ANALYSIS OF PROJECT PORTFOLIO MANAGEMENT PRACTICES
Journal Title: Ekonomicko-manazerske spektrum - Year 2018, Vol 12, Issue 2
Abstract
In a turbulent business environment organizations are exposed to new opportunities but also various threats, e.g. financial, market, ecological, technological, politicalal, etc. In such highly competitive conditions the optimal utilization of resources emerges as a critical aspect of project management and its implementation in modern organizations. Nowadays project portfolio solutions are frequently indroduced in business practices. Deploying project portfolio management can facilitate the balance between effectiveness and efficiency. In the recent decades this approach has proliferated as a contemporary practice targeted to support the realization of the organizational strategy. The understanding of project portfolio management within the current study considers it as a centralized and balanced approach to the management of a set of projects constituting a portfolio, in order to achieve the strategic goals of the organization. This is accomplished by targeted processes – evaluation, selection, execution, prioritization, assessment, monitoring, and control of projects or programs – taking into account their alignment to the organizational strategy and contribution to the achievement of their objectives. The goal of the paper is to explore the major factors that favourably affect project portfolio management practices in Bulgarian project-oriented organizations using survey data from 184 respondents. Using an original research instrument, data about the implementation of project portfolio management were collected through purposive sampling of organizations that apply such an approach in their operations. Selected empirical results from a questionnaire survey of the factors of effective project portfolio management are presented regarding the practices in the studied organizations. A set of specific items concerning the project portfolio management practice are grouped into five major factors using principal component analysis. Each of these latent factors reflects a particular cluster of internal capabilities of the organizations to successfully implement project portfolio management in dynamic and complex business environment.
Authors and Affiliations
Matilda Alexandrova
PREDICTION MODEL OF FIRM´S FINANCIAL DISTRESS
The issue of classification of firms and the construction of a predictive model of their financial distress has long been in the focus of the attention of economists and scientists in different countries around the world...
INNOVATIONS OF A GREEN PRODUCT
These days, differentiating and ecologizing of the products has been gaining more and more importance. Therefore, green logistics has earned its indisputable position in an enterprise, as an important tool ensuring compe...
THE RISK ASSOCIATED WITH THE REPLACEMENT OF TRADITIONAL BUDGET WITH PERFORMANCE BUDGETING IN THE PUBLIC FINANCE SECTOR MANAGEMENT
Performance budgeting has been functioning in Poland for almost twelve years now and it still can be said that it is a challenge for the entire sector. So far many countries have attempted to implement it, proposing a tr...
THE CHANGE OF THE TRAJECTORY TOWARDS GROWING ECONOMY: THE EVIDENCE FROM RUSSIA
The Russian economy has overcome the recession and returned to moderate growth in year 2017, as the economy has adjusted to the lower oil price and the sanctions imposed in 2014. Russian companies had stepped up domestic...
THE FEATURES OF REGIONAL INVESTMENT ANALYSIS IN RELATION TO THE CORPORATE SECTOR OF ECONOMY IN CONDITIONS OF GLOBALIZATION
The article deals with the regional features of the influence of investments on the dynamics of the gross regional product in various groups of regions as well as in relation to the corporate sector of the regional econo...