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The thesis focuses on the equity portfolio management with quantitative methods. We present 3 types of optimization objectives: One tries to find minimum variance portfolios, tangency portfolios and portfolios with maximized expected returns in the German stock market. It is possible to compare those investment opportunities with a market-cap weighted benchmark and an equal weighted portfolio. Expected returns of stocks are estimated with fundamental factor models. Risks of portfolios are estimated with 5 types of covariance matrices: the matrix calculated with historical returns, estimations with the single index model, Fama-French three factors model, fundamental factor model and the shrinkage method. Our results are doubled because of the demonstration of the impact of turnover constraint on portfolio performance measures (transaction costs are included in our calculations). One can see that optimized portfolios had attractive risk-return measures in the period 2005 - 2015. Benchmark and equal weighted portfolios were dominated and we consider them to be inefficient investments in our test.

The present trend towards shorter product lives means that manufacturers are faced with less time whereby production costs can be controlled and reduced. As a result many companies are turning towards the use of Systems Engineering and cost management techniques that are intended to reduce product costs during the design phases of the product life. <p>One of the many cost management tools that are presently in use is target costing. An iterative process, target costing attempts to reduce the cost of manufacturing products by using value engineering techniques so that identified target costs can be realized. As a step improvement program, the ability of a company to obtain its target cost in not always certain. Target profits from individual products are grouped together into portfolios and then managed according to company strategic profit plans. <p>This report investigates methods used for identifying the uncertainties that can exist in the target costing process and suggests the potential use efficient portfolio techniques for the management of process oriented or continuous products. The report also suggests a number of follow-on projects that could encompass the use of specific decision support systems for the examination of both target costing uncertainties and portfolio management. / Master of Science