Organization, Technology & Management in Construction: An International Journal
ISSN 1847-5450 print / ISSN 1847-6228 online
udc 62:658(05)

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4. Zoltan Sebestyen, Tamas Toth:

RANKING PROJECTS IN MULTI-CRITERIA ENVIRONMENT

Abstract:

In the construction industry, the way the company manages its projects is a fundamental issue. IT tools supporting project portfolio management have become widely available and widely used, however, some of their processes still significantly need to be refined and made more accurate. Choosing the right project is a vital element of their way to success or failure. This also means that when a building project becomes value-destroying, it has to be suspended, or even stopped. Making such decisions is vitally important for the company. The paper presents an integrated project prioritization model, which includes both financial and non-financial criteria. The conceptual idea is to integrate the financial element with the most widely used non-financial points of view that are already applied, tested and published in the relevant literature separately. The authors go over the steps of PPM one by one and in addition to the ranking of the outlined projects, also briefly summarize the basics of monitoring.

Keywords: Portfolio management; Project prioritization; Project selection; Project ranking criteria; Monitoring