Portfolio Management System Research Articles

FORMATION AND MANAGEMENT OF THE BANK'S INVESTMENT PORTFOLIO

For effective investment activity of banks, it is necessary to optimize and manage the bank's securities portfolio.The modern portfolio management system has a sufficient arsenal of effective tools, including a number of principles and approaches.The volatility of the Kazakhstan stock market requires the accounting service to pay increased attention to the main function of professional financial agents (including commercial banks) - resource management. The multi-dimensionality of the modern investment portfolio of a commercial bank goes beyond the traditional "accounting" model, that is, the description of the results of portfolio management activities by drawing up the balance sheet. Accordingly, within the framework of the organization of the subject of financial activity, the problem of managing the investment portfolio, building a model and technological implementation arises.Given the huge potential of theoretical developments in the field of portfolio management, Kazakhstan's commercial banks are lagging behind in the practical implementation of management models. Decision-making within the standard organizational structure of commercial banks does not reflect the current capabilities and requirements for resource management. With the development of the Internet and information technologies in Kazakhstan, the time allocated to top managers for making managerial decisions has sharply decreased. Thus, it is necessary not only to develop a model of resource management in the financial markets, its practical implementation has also become a factor in the competitiveness of a commercial bank. The relevance of the study lies in the lack of a comprehensive approach to the practical implementation of the investment portfolio management process, starting with the creation of the organizational structure of a commercial bank and ending with the introduction of management models based on improved information.

Project Management System of Exploration Program in the Light of Prioritizing of Reservoir Engineering Stages According to the Criterion of Prospects

A model of the project portfolio management system of a geological exploration enterprise has been developed, taking into account the stages of work. The model includes a control object, a decision-making subsystem, which includes a control device represented by the decision support software system “Balance of Groundwater Availability” (BGA) and an executive device represented by a decision-maker, making decisions at a geological exploration enterprise. The stimulus to the target asset arises on the one hand in connection with the implementation of sectorial and federal programs within the area for the development of the geological industry and the reproduction of mineral resources, on the other hand, it is the need to maintain a certain balance of the availability of raw materials in the region, in particular, underground water. Hence, it is necessary for the underground water exploration company to take into account the specifics of the programs in view of the interconnection of the sites within one large field of regional scale. In this case, the project portfolio needs to be managed, taking into account the network nature of their interaction, i.e. mutual influence on the remaining sections of the field. On the other hand, when forming a portfolio of projects of a geological exploration enterprise, it is necessary to take into account staging and phasing of geological exploration, their seasonal nature allows viewing the model of the management system in the context of discrete time. The work was carried out with the financial support of the grant of the President of the Russian Federation No. MD-2409.2020.5.

The mutual benefits of patient and public involvement in research: an example from a feasibility study (MoTaStim-Foot)

BackgroundPatient and public involvement (PPI) in research has increased steadily over the last two decades and is now both expected and appropriately resourced by many funding bodies, including the National Institute for Health Research (NIHR). However, PPI in research occurs in many different capacities and numerous frameworks exist for reporting or appraising patient involvement activities. The aim of this article is to describe processes involving PPI contributions to an NIHR-funded mixed-methods feasibility study (MoTaStim-Foot). Details of PPI advisors’ input, from initial identification and prioritisation of research ideas, to research delivery and dissemination, are discussed.MethodsExtensive PPI for MoTaStim-Foot is reported, with consideration of Research Design Service (RDS) advice for PPI for research, involving identifying and prioritising: design; grant proposal development; undertaking/managing research; analysing and interpreting; dissemination; implementation; monitoring and evaluation. Two PPI workshops were undertaken; success in meeting UK standards for public involvement was audited against specific success criteria by two researchers, with discussion and consideration regarding how well our PPI achieved inclusive opportunities, working together, support and learning, governance, communications and impact. How PPI can be improved for future trials was also considered. Although the advantages of PPI for researchers were considered, the benefits for PPI advisors were also analysed.ResultsUK standards for public involvement were achieved, along with seven relevant research processes suggested by the RDS. PPI advisor contributions: informed study design; contributed to successful funding; enhanced trial delivery by informing participant information sheets and daily diaries; added value through undertaking note-taker roles in focus groups and helping to analyse focus group transcripts; and assisted in dissemination. However, benefits were mutual with PPI advisors reporting feeling valued and respected, a sense of pride with renewed confidence and purpose in life.ConclusionsImportance and value of PPI, to researchers and patient advisors, have been highlighted, reinforcing the benefits of working in partnership with PPI advisors.Trial registration ISRCTN 13676183; Central Portfolio Management System ID 30449. Registered 02/01/2015, https://www.isrctn.com/ISRCTN13676183.

Boosting Radical Innovation Using Ambidextrous Portfolio Management

Overview Managing an innovation portfolio is crucial for firms looking to foster radical innovation. Radical innovation, however, creates challenges for traditional portfolio management systems. When companies do not adequately distinguish between incremental and radical innovation when designing their management systems, portfolio management decision-making processes will tend to favor incremental innovation. Radical innovation requires a broader, multilevel organizational approach. We propose a multilevel framework for innovation portfolios that considers elements at the individual, project, organizational, and strategic levels. We suggest guidelines for ambidextrous portfolio management to ensure a strong separation between incremental and radical innovation projects and to support a more fruitful management environment for radical innovation.

Identifying determinants of diabetes risk and outcomes for people with severe mental illness: a mixed-methods study

Background People with severe mental illness experience poorer health outcomes than the general population. Diabetes contributes significantly to this health gap. Objectives The objectives were to identify the determinants of diabetes and to explore variation in diabetes outcomes for people with severe mental illness. Design Under a social inequalities framework, a concurrent mixed-methods design combined analysis of linked primary care records with qualitative interviews. Setting The quantitative study was carried out in general practices in England (2000–16). The qualitative study was a community study (undertaken in the North West and in Yorkshire and the Humber). Participants The quantitative study used the longitudinal health records of 32,781 people with severe mental illness (a subset of 3448 people had diabetes) and 9551 ‘controls’ (with diabetes but no severe mental illness), matched on age, sex and practice, from the Clinical Practice Research Datalink (GOLD version). The qualitative study participants comprised 39 adults with diabetes and severe mental illness, nine family members and 30 health-care staff. Data sources The Clinical Practice Research Datalink (GOLD) individual patient data were linked to Hospital Episode Statistics, Office for National Statistics mortality data and the Index of Multiple Deprivation. Results People with severe mental illness were more likely to have diabetes if they were taking atypical antipsychotics, were living in areas of social deprivation, or were of Asian or black ethnicity. A substantial minority developed diabetes prior to severe mental illness. Compared with people with diabetes alone, people with both severe mental illness and diabetes received more frequent physical checks, maintained tighter glycaemic and blood pressure control, and had fewer recorded physical comorbidities and elective admissions, on average. However, they had more emergency admissions (incidence rate ratio 1.14, 95% confidence interval 0.96 to 1.36) and a significantly higher risk of all-cause mortality than people with diabetes but no severe mental illness (hazard ratio 1.89, 95% confidence interval 1.59 to 2.26). These paradoxical results may be explained by other findings. For example, people with severe mental illness and diabetes were more likely to live in socially deprived areas, which is associated with reduced frequency of health checks, poorer health outcomes and higher mortality risk. In interviews, participants frequently described prioritising their mental illness over their diabetes (e.g. tolerating antipsychotic side effects, despite awareness of harmful impacts on diabetes control) and feeling overwhelmed by competing treatment demands from multiple morbidities. Both service users and practitioners acknowledged misattributing physical symptoms to poor mental health (‘diagnostic overshadowing’). Limitations Data may not be nationally representative for all relevant covariates, and the completeness of recording varied across practices. Conclusions People with severe mental illness and diabetes experience poorer health outcomes than, and deficiencies in some aspects of health care compared with, people with diabetes alone. Future work These findings can inform the development of targeted interventions aimed at addressing inequalities in this population. Study registration National Institute for Health Research (NIHR) Central Portfolio Management System (37024); and ClinicalTrials.gov NCT03534921. Funding This project was funded by the NIHR Health Services and Delivery Research programme and will be published in full in Health Services and Delivery Research; Vol. 9, No. 10. See the NIHR Journals Library website for further project information.

Portfolio management system in equity market neutral using reinforcement learning

Portfolio management involves position sizing and resource allocation. Traditional and generic portfolio strategies require forecasting of future stock prices as model inputs, which is not a trivial task since those values are difficult to obtain in the real-world applications. To overcome the above limitations and provide a better solution for portfolio management, we developed a Portfolio Management System (PMS) using reinforcement learning with two neural networks (CNN and RNN). A novel reward function involving Sharpe ratios is also proposed to evaluate the performance of the developed systems. Experimental results indicate that the PMS with the Sharpe ratio reward function exhibits outstanding performance, increasing return by 39.0% and decreasing drawdown by 13.7% on average compared to the reward function of trading return. In addition, the proposed PMS_CNN model is more suitable for the construction of a reinforcement learning portfolio, but has 1.98 times more drawdown risk than the PMS_RNN. Among the conducted datasets, the PMS outperforms the benchmark strategies in TW50 and traditional stocks, but is inferior to a benchmark strategy in the financial dataset. The PMS is profitable, effective, and offers lower investment risk among almost all datasets. The novel reward function involving the Sharpe ratio enhances performance, and well supports resource-allocation for empirical stock trading.

The Effect of Trust and Trade on Stock Markets Comovement

Trust is a basic component of social trust that has been neglected in existing empirical literature regarding stock markets comovements. It is an important factor due to its implications for portfolio management and financial system stability. This study investigates how trust distance affects the way stock markets co-move together in ASEAN, BRICS, and G12 countries. Further, we investigate the moderating effect of trust distance on trade between different nations and the comovement of their stock markets. This is because trade is an important factor when it comes to stock market integration. Our findings based on the OLS and quantile regression demonstrate that similarity in trust positively affects the way stock markets move together, however, this is not always the case during market turmoils because of increased volatility. For the quantile regression we discovered that trust distance has an asymmetric effect to stock markets co-movement as it is only significant below the 60th percentile only. Moreover, we find that trust positively moderates the effect of trade on stock markets’ co-movement between BRICS and G12 nations as it increases openness to trade which in turn leads to synchronizing business cycles and equity markets. This however is not the case with ASEAN nations as they are still nascent markets and not yet mature. The policy implications for stakeholders imply that invetors need to diversify their portfolios to markets which are furthest in trust distance above 1 and that policymakers like central banks need to put in place regulations which consider trust distance in order to avoid financial contagion during market turmoils.

Modeling of credit portfolio management efficiency

Credit operations, among the great variety of services provided by the bank, are one of the most important activities. In the assets of commercial banks, loans occupy a strong position of the most extensional and profitable items. The reliability and financial stability of commercial banks depends on the composition and structure of the bank's loan portfolio and the process of its management. Under current conditions, the development and improvement of the bank's loan portfolio management system intended to minimize the credit risks and ensure the sustainable operation of commercial banks have become particularly important. Crisis phenomena in economy have proved that the activities of any economic entity is associated with uncertainty in market development. Adverse developments in the world markets directly affected the solvency of borrowers of many banks. The increase in defaults of most borrowers resulted in the increase in defaults on loans, causing the increase in overdue debt, lower profitability and liquidity problems in banks. Thus, the recent crisis in the world economy, including Ukrainian economy, has demonstrated the failure of the methods used to assess and manage credit risk in banking, as well as the imperfection of the methods used to manage the loan portfolios of commercial banks. The results of the previous carried out investigation indicate that in order to form the correct management decisions and take practical actions concerning the formation of loan portfolio for commercial bank, it is necessary to assess its status. In this regard, the method of econometric modeling (determination of the relationship between gross domestic product and overdue debt of the banking system in Ukraine, the relationship between the volume of loans issued by banks and the discount rate; the relationship between the volume of loans issued to individuals and the volume of the loan portfolio in general) is differentiated in this paper from other estimation methods. This method made it possible to determine the effectiveness of loan portfolio management of commercial banks. The results of the calculations provide reasons to confirm that there is insignificant relationship between the level of loans to individuals and the loan portfolio.

Factors Affecting the Sustainability of Microfinance Institutions: A Case of Malawi Microfinance Institutions

Background: Micro Finance Institutions (MFIs) have been used as a tool for poverty alleviation in many developing economies globally, including Malawi. However, their sustainability in many countries has been dependent solely on loan repayment, donor aid, and subsidies. Aim: This study aimed at investigating the factors that influence the sustainability of MFIs in Malawi. Methods: A cross-sectional survey was conducted from November to December 2020 among the MFIs employees in the central region of Malawi. Convenience and purposive sampling techniques were used to collect data online using a google form sent via social media platforms. Data were analyzed using IBM SPSS software with Statistical significance placed at 0.05. Results: 120 respondents completed the survey representing 79.3% response rate, of which 63% were male. The majority of the respondents fell within the age group of 31 - 40 years, representing 58%, having attained universities and vocational colleges’ education level, representing 32.8%. With an experience of above 16 years, representing 41.2% of which were branch managers, representing 49.6%. The results of the ordinary least square regression indicated that reporting and loan management system (RLMS) (β = 0.200, P = 0.021), corporate-governance (β = 0.257, P = 0.004), and commercialization (β = 0.161, P = 0.047) were positively significantly influencing the sustainability of MFI. On the other hand, loan design/type (β = -0.211, P = 0.006), loan portfolio management (β = -0.179, P = 0.050) were found to be negatively impacting the MFI. Lastly, variables of over-indebtedness (B = 0.077, P = 0.426), loan disbursement (β = 0.121, P = 0.104) were found statistically insignificant. Conclusion: Our study argues that through commercialization, standardized reporting, and effective loan portfolio management systems, stakeholder-based approach to corporate governance, and favored board independence through scale and cost management is critical to improving MFIs financial sustainability.

Carteiras de Black Litterman com Análises Baseadas em Redes Neurais

This paper presents an autonomous portfolio management system. Autonomous investment systems consist of a series of buy and sell rules on financial markets, which can be executed by machines, oriented to maximizing investor gains. The system uses a Neural Network approach for monitoring the market and the Black-Litterman model for portfolio composition. The ten most traded assets from the Bovespa Index are analyzed, with dedicated neural networks, which suggests future return estimates using technical indicators as input. Those estimates are inserted in the Black-Litterman model which proposes daily portfolio composition using long and short positions. The results are compared to a second autonomous trading system without the Black-Litterman approach, referred to as Benchmark. The numerical results show a great performance compared to the Benchmark, especially the risk-return ratio, captured by the Sharpe Index. Such results suggest that the use of Bayesian inference models combined with neural networks may be a good alternative in portfolio management.

Electronic Portfolio Management System (EPMS) in Saudi Technical and Vocational Training Corporation (TVTC) Sector: A Conceptual Framework

Electronic Portfolio Management System (EPMS) in Saudi Technical and Vocational Training Corporation (TVTC) Sector: A Conceptual Framework

Towards successful establishment of a project portfolio management system: business process management approach

Linking structures, processes and resources with corporate strategies is a key requirement of today’s organizations, bringing about integration toward achieving long-term objectives. Organizations can no longer rely on traditional practices since advanced systems and management approaches are being applied by their competitors. The project portfolio management (PPM) is a tool that plays a key role in collecting information from operational levels and consolidating them at the portfolio level for strategic decision-making. Establishment of this approach in organizations requires robust information systems, analytical software, decision-making structure, and governance framework to be in place. Primarily, a systematic perspective needs to be adopted to define, design and model all the necessary components of a PPM system. Business process management (BPM), as a systematic approach, can be effectively applied for this purpose. The aim of this study is to introduce one of the specific applications of the BPM approach in facilitating the systematic implementation of PPM in organizations. This theoretical study is exploratory in essence and tries to theorize the relationship between BPM and PPM to develop a conceptual framework highlighting the role of BPM in embedding all the necessary features of a PPM system. We found key functions of BPM that contribute to three aspects of PPM system namely; structure, infrastructure, and process. The findings introduce one of the important application of BPM in the management of project portfolios and also provide professionals with practical insight into how the BPM should be applied to facilitate the implementation of this system.

Kawasaki-like disease: emerging complication during the COVID-19 pandemic

Kawasaki-like disease: emerging complication during the COVID-19 pandemic

Methods for analyzing the quality of a banks loan portfolio

Lending is one of the major banking institutions. But lending has some risks of varying degrees. The main purpose of banks is to repay loans and to maximize profits. To do this, banks need to implement an efficient, flexible and modern credit portfolio quality management system. An important element of this system is the analysis of the quality of the loan portfolio. That is why the consideration of the methods by which banks can carry out this analysis is a very actual topic. The purpose of this paper is to review methods of analyzing the quality of a bank's loan portfolio, as well as to outline the disadvantages and benefits of each method. The paper examines the most common and modern approaches to defining the concept of «bank loan portfolio». The types of loan portfolio are considered. The definition of the quality of the bank loan portfolio is given. The definition of bank credit portfolio management is given and the basic elements of credit portfolio management are given. The main methods to be used in assessing the quality of a bank's loan portfolio are identified. They are divided into three groups: methods of expert judgment, statistical and analytical methods. A more detailed description of the methods in the three groups listed above is given. The rating method, the «Decision Tree» method, coefficient analysis, Monte Carlo method, scoring, correlation-regression analysis, taxonomic analysis and stress testing are characterized. The advantages and disadvantages of each method are also given. Indicators to assess the quality of the bank's loan portfolio are considered: the credit portfolio risk indicators and the profitability of credit operations. After the study, it was concluded that the above methods of analysis of the quality of the loan portfolio should be applied comprehensively. It is determined that currently the banks of Ukraine do not use the whole analytical set of methods, but choose for themselves several and constantly use them in the analysis of the quality of the loan portfolio. In order to ensure effective management of the bank's credit portfolio, it is necessary to constantly monitor the quality of the bank's credit portfolio for early detection of credit risk and its prevention, as well as for detection of deterioration of profitability indicators.

Portfolio trading system of digital currencies: A deep reinforcement learning with multidimensional attention gating mechanism

As a hot topic in the financial engineering, the portfolio optimization aims to increase investors’ wealth. In this paper, a portfolio management system based on deep-reinforcement learning is proposed. In contrast to inflexible traditional methods, the proposed system achieves a better trading strategy through Reinforcement learning. The reward signal of Reinforcement learning is updated by action weights from Deep learning networks. Low price, high price and close price constitute the inputs, but the importance of these three features is quite different. Traditional methods and the classical CNN can’t deal with these three features separately, but in our method, a designed depth convolution is proposed to deal with these three features separately. In a virtual currency market, the price rise only occurs in a flash. Traditional methods and CNN networks can’t accurately judge the critical time. In order to solve this problem, a three-dimensional attention gating network is proposed and it gives higher weights on rising moments and assets. Under different market conditions, the proposed system achieves more substantial returns and greatly improves the Sharpe ratios. The short-term risk index of the proposed system is lower than those of the traditional algorithms. Simulation results show that the traditional algorithms (including Best, CRP, PAMR, CWMR and CNN) are unable to perform as well as our approach.

Undiagnosed dementia in primary care: a record linkage study

Background The number of people living with dementia is greater than the number with a diagnosis of dementia recorded in primary care. This suggests that a significant number are living with dementia that is undiagnosed. Little is known about this group and there is little quantitative evidence regarding the consequences of diagnosis for people with dementia. Objectives The aims of this study were to (1) describe the population meeting the criteria for dementia but without diagnosis, (2) identify predictors of being diagnosed and (3) estimate the effect of diagnosis on mortality, move to residential care, social participation and well-being. Design A record linkage study of a subsample of participants (n = 598) from the Cognitive Function and Ageing Study II (CFAS II) (n = 7796), an existing cohort study of the population of England aged ≥ 65 years, with standardised validated assessment of dementia and consent to access medical records. Data sources Data on dementia diagnoses from each participant’s primary care record and covariate and outcome data from CFAS II. Setting A population-representative cohort of people aged ≥ 65 years from three regions of England between 2008 and 2011. Participants A total of 598 CFAS II participants, which included all those with dementia who consented to medical record linkage (n = 449) and a stratified sample without dementia (n = 149). Main outcome measures The main outcome was presence of a diagnosis of dementia in each participant’s primary care record at the time of their CFAS II assessment(s). Other outcomes were date of death, cognitive performance scores, move to residential care, hospital stays and social participation. Results Among people with dementia, the proportion with a diagnosis in primary care was 34% in 2008–11 and 44% in 2011–13. In both periods, a further 21% had a record of a concern or a referral but no diagnosis. The likelihood of having a recorded diagnosis increased with severity of impairment in memory and orientation, but not with other cognitive impairment. In multivariable analysis, those aged ≥ 90 years and those aged < 70 years were less likely to be diagnosed than other age groups; those living with a spouse (odds ratio 2.38, 95% confidence interval 1.04 to 5.41) were more likely to be diagnosed than people living alone. The median time to diagnosis from first meeting the criteria for dementia was 3 years. Diagnosis did not affect survival or the probability of a move to residential care. Limitations People with moderate to severe dementia at baseline could not consent to record linkage. The small numbers in some groups limited power to detect effects. Conclusions The lack of relationship between severity of non-memory impairment and diagnosis may reflect low awareness of other symptoms of dementia. There remains little objective evidence for benefits of diagnosis for people with dementia. Future work Potential benefits of diagnosis can be realised only if effective interventions are accessible to patients and carers. Future work should focus on improving support for people living with cognitive impairment. Study registration National Institute for Health Research Clinical Research Network Central Portfolio Management System (CPMS 30655). Funding This project was funded by the National Institute for Health Research (NIHR) Health Services and Delivery Research programme and will be published in full in Health Services and Delivery Research; Vol. 8, No. 20. See the NIHR Journals Library website for further project information.

CONCEPTUAL MODEL OF PROJECT-ORIENTED MANAGEMENT OF EDUCATIONAL ACTIVITIES OF HIGHER EDUCATION INSTITUTIONS

The subject matter of the article is the methods, models and mechanisms of project-oriented management of the educational activities of higher education institutions. The goal of the work is to develop a conceptual model for managing the educational activities of higher education institutions on the basis of a project-oriented approach. The following tasks were solved in the article: analysis of the educational activity management model of higher education institutions, the study of modern methods of managing university educational projects portfolios, the development of a mechanism for the formation of a conceptual model of project-oriented management of educational activities of higher education institutions. The following methods are used – project and portfolio management methods, systems theory and systems analysis, risk management methods. The following results were obtained – the main stages of the life cycle, their products and the mission of the project "Introductory Campaign of Higher Education Institutions" were identified, the concept of "educational product", "product of an educational project", "educational project", "educational activity project" was defined, a model for determining introductory campaign project values and effectiveness, a conceptual model of project-oriented management of educational activities of higher education institutions has been developed taking into account the value of the project "Introductory Campaign of Higher Education Institutions". Conclusions: ensuring the effectiveness of the implementation of the project approach in the ongoing activities of higher education institutions should be based on a clear identification of the attributes of these projects, including products, values and effectiveness, which will allow not only to clearly understand the result of project activities, but also to control its receipt. The implementation of the concept of project-oriented institutions of higher education will increase the efficiency of the current activities of universities and their development by using the advantages of project management technologies. The definition "Mission of the project "Introductory Campaign of Higher Education Institutions" is proposed, which is understood as the achievement of the maximum possible enrollment of students in the current conditions on the educational services market. The value of the "Introductory Campaign of the Higher Education Institution" project has been established, which determines the usefulness of the project product for stakeholders. The proposed conceptual model of a project-oriented approach to the management of educational activities of higher education institutions will allow to extend the project approach to the development and functioning of various blocks of the university’s activities based on the introduced concept of "product portfolio of higher education institutions". Such an approach in the future will make it possible to clearly identify the totality of university projects as part of educational activities and turn its current activities into a portfolio of projects.

A Blueprint for Performance-Driven Operations Management

The growing availability of information and data analysis capabilities of recent years provides new opportunities for improving the performance of mining operations. By using real-time measurements and artificial intelligence, it is possible to respond faster to changing conditions, while accurate and timely information permits rapid evaluation of changes and fast business improvement decisions. This article presents a blueprint for alignment of systems, organizational design, and management practices to leverage these developments in performance-driven operations management in mining and mineral processing. The first component of the blueprint is a performance framework with a system of key performance indicators for production control that can be used across organizational levels. This system places improvement at the core of management activities, giving greater importance to improvement skills at lower organizational levels, so companies can leverage available information for improving operational control. Secondly, the blueprint defines an organizational structure that strengthens performance improvement with technological and change management capabilities. Finally, the blueprint proposes alignment of management practices, covering the optimization of short-interval controls, the application of an improvement project portfolio management system that determines the ownership of improvement projects, and the coordination of controls across the organization. This combination of systems, organizational design, and management alignment supports rapid decision-making at the right organizational level. Introduction of the presented blueprint for operations management enables mines to leverage the developments in information and analysis capabilities to improve the performance of operations.

Management of innovative investment projects in housing construction

Introduction. Housing innovation and investment projects can be characterized as projects that, with relatively small investments, can create competitive products, real increase in investment potential and investment resources of a construction organization. In modern conditions it is also necessary to strive to ensure that the implementation of innovative projects aimed at improving the economic efficiency of construction does not lead to a decrease in the quality of construction products (reliability of structures, attractiveness of architectural and structural solutions of buildings). Regardless of the direction of movement in business, the leaders of construction organizations, in the presence of interest in the development of the company inevitably come to understand the need for improvement and development of methods of managing innovative projects. This contributes to the formation of an effective corporate system of management of construction projects, adequate to the conditions prevailing in the domestic market of construction services and takes into account the peculiarities and specificity of a particular region. It should be noted that if at the level of departments (IT-orientation), or certain types of projects (for example, research and development) project management methodology is used very actively in the construction industry, then at the level of program and project portfolio management, determining their priorities, portfolio balancing etc. theoretical and practical research is not enough.The purpose. The purpose of the study is to develop theoretical provisions for managing the implementation of innovation and investment projects in housing. Results. The peculiarities of the management of innovation-investment projects in housing construction in the management of several projects are revealed. The complexity in planning and organization of interaction of various subjects (participants) of innovation-investment projects is determined. It is suggested to take into account the degree of risk in the process of implementation of innovation-investment projects. The factors influencing the effectiveness of innovation investment projects have been clarified. The directions of development of the structure of the corporate system of management and state regulation of the innovation-investment sphere of housing construction are determined. Discussion. Prospects for further research are to develop a methodology for forming an information complex of corporate project portfolio management system, which includes a set of normative documents, as well as a set of tools and methods for managing innovative projects that ensure the effective implementation of different projects of the organization under the same rules at different stages of their life cycle, allowing to improve project management system, to extend the managed range of the project lifecycle, to increase the level of integration and specialization of the Management Center.

Advanced Quantitative Equity Portfolio Management System

Portfolio management is both complex and simple. It involves many steps and processes that leads to intended results: delivering excess returns within some risk budget. Each steps and processes is important and one needs to look at and improve each sub-system. Such Quantitative Equity Portfolio Management Systems require an extensive factor database, alpha forecasting system, risk modeling system, portfolio construction/optimization, risk monitoring, performance attribution, transaction cost modelling, and backtesting.