Browsing by Author "Vacík, Emil"
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- ItemApplication of the multi-project management in companies(Technická Univerzita v Liberci, 2013-08) Kracík, Lukáš; Vacík, Emil; Plevný, Miroslav; Ekonomická fakultaContemporary companies use as a tool for strategy implementation project management. The problem of this approach is that the number of projects grows; the company must solve parallel projects of various types and priorities. On the other hand the growth of resources is not so remarkable. An effective management of project portfolio consists of three phases: formulation of the framework of portfolio configuration, portfolio design and portfolio management. The portfolio management is also called a multi-project management, concerning variety of activities including portfolio optimizing. The reasons for multi-project implementation are different (advanced globalization, the integration of markets or the development of new technologies). All these factors make great demands on the right implementation of multi-project management. The goals of this article are to analyze activities leading to an effective use of multi-project management, describe steps which are necessary to do for its successful implementation and illustrate the practical use on the example of one company as verification case study, which proved the theoretical background of this topic.
- ItemProject portfolio optimization as a part of strategy implementation process in small and medium-sized enterprises(Technická Univerzita v Liberci, ) Vacík, Emil; Špaček, Miroslav; Fotr, Jiří; Kracík, Lukáš; Ekonomická fakultaThis paper presents an improved managerial approach to project portfolio development using software optimization tools. A review of literature revealed a gap formed by the lack of either an established approach or a normative model of how to develop portfolios in SMEs. To bridge this gap, this paper is based on topical information and offers a method that supports decision makers in their choice of the most suitable project portfolio. This method can be implemented by the use of a simulation software tool for project portfolio optimization while considering constraints and conformity with corporate strategy. The authors conclude that the foundation of success is to formulate optimum portfolios, the configurations of which reflect all key strategic parameters. Moreover, it must be feasible to implement such a portfolio in the environment of SMEs within disposable firm resources and consider identifiable risks upon the selection of the effective project portfolio. One chosen case study evidenced the viability of this approach. The approach to project portfolio optimization discussed in this paper shows the effectiveness of the selected methodology for project portfolio optimization that in turn significantly contributes to meeting strategic goals and thus an increase in company performance and shareholders’ value. The use of a common software tool together with the right access to data collection and processing allows managers to make better decisions for the effective future allocation of resources over the chosen project portfolio.
- ItemScenarios and their application in strategic planning(Technická Univerzita v Liberci, ) Fotr, Jiří; Špaček, Miroslav; Souček, Ivan; Vacík, Emil; Ekonomická fakultaThe article deals with the concept of scenario planning. Scenarios, as opposed to usual prediction methods, are focused on the identification of discontinuities in the development and help the organization cope with sudden changes and noticeably contribute to its survival. Contemporary methods of scenarios construction work on need to ensure flexibility of the strategic plan and get the firm ready for a quick reaction when set trigger points specifying the corresponding scenario come to pass. Processing of business environment information, known as Business Intelligence, becomes necessity. Based on the methodological platform, it describes in detail the stepwise process of scenario construction. The very process of scenario elaboration goes through six basic steps, Identification of risk factors and determination of their importance; Selection of key risks which, according to the company’s opinion, fundamentally influence fulfilment of strategic goals; Formulation of basic scenarios and testing their consistency; Determination of probability of scenarios occurrence and Performing a “gap analysis” for the sake of determining the extent of strategic goals fulfilment. There are various types of scenarios which might be respected due to the development of entrepreneurial environment introduced and discussed. Respecting the indicated risk factors and their influence on key risks of the financial plan, the spread of scenarios is being drafted. It is typical of business practice to work with 3–4 scenarios. Besides determining the impact of a risk on the firm’s performance (the rate of fulfilling set strategic goals), the probability assessment of each scenario is also necessary. Outputs from constructed scenarios are to be worked up into a particular strategic option, which may be used as a qualified base for the strategic decision-making process.The practical application shows how the methodology used raises flexibility in strategic planning of the firm.