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The paper considers an up-to-date issue in project management, namely the implementation of the project portfolio management approach in contemporary organizations and its relation to the corporate strategy. It emphasizes on the premise that only if project portfolio management is effectively aligned with the corporate strategy a synergetic effect can be achieved facilitating the portfolio success. The theoretical grounds outlined here are supported by evidence from the practice on the basis of a case study reviewing the system of project portfolio management in Telenor Group Bulgaria at three levels - unit within the organization, organization within the group, and the group of organizations as a whole. A conclusion is derived regarding the establishment and management of project portfolio as inherent function necessary for the effective control over projects execution providing their successful realization in a multi-unit environment of a business group. [ABSTRACT FROM AUTHOR]

The paper analyses some dimensions of Bulgarian national cultural environment as well as their impact on management behaviour. Formulations from significant studies (e.g. of H. Hofstede, M. Bond, A. Laurent and other authors, as well as some Bulgarian authors) are reviewed in this field. Data from an empirical survey are used for testing hypotheses about the impact of three main cultural dimensions (individualism, masculinity and avoidance of uncertainty) upon the formation and development of managerial behaviour in Bulgarian enterprises. [ABSTRACT FROM AUTHOR]