The Project and Finance Management in Manufacturing Enterprises in the Czech Republic

Abstract

Purpose of the article: The purpose of submitted paper is to introduce expert public to the partial part of the dissertation thesis in the field of project management. The purpose of the work is to propose a model of financial flows in selected fields of processing industry specified in the classification of economic activities CZ-NACE. The finance management plays an important role in the project management – in the stage of preparation, implementation and subsequent evaluation of particular project. Methodology/Methods: Methods and techniques of both quantitative and qualitative research have been applied for the research. Questionnaire method has been used as the key method within the framework of quantitative research. After the secondary data collection the questionnaire form has been prepared, later distributed among selected companies, which have promised to participate in this particular project. Both closed and open questions have been formulated in the questionnaire. The specialised literature states that the questionnaire method is not quite appropriate as the return-rate of questionnaires and reliability of acquired data are not guaranteed. In this particular case the return rate of questionnaires has overreached 50%. Partially structured interview has been applied as an optimal method within the framework of qualitative research. This method has been used both to acquire primary data and to acquire more detailed specification of already received responses. All collected data have been fully utilized, already partially statistically evaluated. Submitted paper describes descriptive statistics and proposition of further methods of statistical evaluation, especially for the verification of formulated hypothesis. Scientific aim: The scientific contribution is the interaction of project and financial management as by means of this mutual link positive influences take place in the company. Moreover, the research is further involved in the optimization of financing of projects, observance and optimal planning and project budget allocation, its control and feedback. Findings: The findings in the particular issue, following the research, is the fact that companies in the Czech Republic are starting, or already actively use, the project management in their company activities. The companies educate themselves as well as their employees, and participate in the overall development of this field. The fact should be stressed that such companies are only a few; therefore, it is essential to introduce not only professional public to such activities. Conclusions: Finally, the statement may be made that mutual cooperation between project and financial management shall not end in near future. Such cooperation should be further developed among organizations, among individuals as well as work teams. Furthermore, another fact should be added that also factually well prepared projects can be overdrawn from budget point of view.