Abstract

The recent business reality is marked by changes which have primarily been caused by the accelerated scientific and technological development, which has made the changes in all segments of the company’s environment more dynamic. Continuous innovation and development are becoming the prerequisites of a company’s sustainable operation. This implicitly includes the change in the paradigm of business performance and management of a modern company. Instead of determinism, probability and risk have become the context in which the company functions; instead of stability chaos, the area of success; and instead of objectives, profitability and growth the prerequisites of survival and development, the fundamental goals of a modern company. The focus of contemporary entrepreneurial management should be diverted from the continuous repetitive processes towards those based on innovative projects. Project management, as a managerial technology of a systematic management of rounded processes of a project-based approach to development strategy, project realization of development programs and project exploitation of unique and time-limited project products, represents the model of managing the company’s flexibility and adaptability to the changes in the environment i.e. the dynamic optimization of business performance and the development of a company’s competitiveness.

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