— Project management is the discipline of planning, organizing, securing and managing resources to bring about the successful completion of specific project objectives. Project opportunities come in time and it is necessary to decide which will be accepted for creating a dynamic portfolio of projects and which will be rejected. The use of project portfolio management is increasingly becoming a tool for promoting the strategy of the organization, which is a very important role. Using of standard methods or trying to design and apply sophisticated methods based on quantitative analysis is possible for portfolio management. Selection of project portfolio is a dynamic multi-criteria decision-making problem under risk. The paper presents an approach for dynamic project portfolio management based on the Analytic Network Process (ANP) model. The ANP model consists of four basic clusters (projects, resources, criteria, time) with their elements and influences. An important factor of the proposed ANP model is time. Hybrid procedure for dynamics of the project portfolio management is proposed.
— Projects, project portfolio, ANP, resources, criteria, dynamics.
Petr Fiala is with the Department of Econometrics, University of Economics, Prague, Czech Republic (e-mail: email@example.com).
Josef Arlt and Marketa Arltova are with the Department of Statistics and Probability, University of Economics, Prague, Czech Republic (e-mail: firstname.lastname@example.org, email@example.com).
Cite: Petr Fiala, Josef Arlt, and Marketa Arltova, " Management of Dynamic Project Portfolio," International Journal of Innovation, Management and Technology vol. 5, no. 6, pp. 455-459, 2014.