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
Keywords
Related Articles
- EP ID EP592450
- DOI 10.26552/ems.2018.2.96-105
- Views 100
- Downloads 0
PRIVATE EQUITY MARKET OF THE VISEGRAD GROUP
Private equity is medium to long-term finance provided in return for an equity stake in potentially high growth unquoted companies. Private equity is capital that is not listed on a public exchange. Private equity is com...
SOCIO-ECONOMIC CONVERGENCE IN MODELS OF ENDOGENOUS ECONOMIC GROWTH
The main results regarding determined goals of the paper concern the analysis of convergence in relation to the convergence processes from the point of view of physical capital and human knowledge, as well as labour reso...
THE SEARCH FOR BALANCE AND EQUILIBRIUM OF NEGOTIATING POWERS UNDER DISTORTED MARKET COMPETITION
Free market economy challenges business negotiations due to occasional distortions in market conditions, which impact the balance of negotiating powers. This is most commonly referred to both buyers and sellers. Reducing...
OVERCOMING PARADOX FOR SOCIAL ENTERPRISE DEFINITION: CASE OF LITHUANIA
The study explores dilemma around de jure adopted social enterprise conception and social enterprise universe de facto developing through bottom-up initiatives. The presented analysis of Lithuania case presents sitaution...
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...