Abstract
Virtual Organizations seem as a natural paradigm for the globalized and dynamic nature of modern business environments. In a truly globalized world, organizations should be able to participate with other organizations that can provide the needed capabilities at optimal cost and quality. However, in order to foster the adoption of this concept, several missing gaps within the IT technology have to be addressed first. In this paper we present a framework supporting creation and management of dynamic virtual organizations in distributed IT environments. The framework, called FiVO (Framework for Intelligent Virtual Organizations) addresses all major issues related to VO lifecycle including partner discovery, contract negotiation, VO deployment and contract enforcement. In this paper we focus on presentation of integrated functionality of the system and analysis of feasibility of our solution for industrial applications.