Performance Measurment and Lead-Time Reduction in EPC Project-Based Organizations: A Mathematical Modeling Approach

Abstract

To characterize the process of lead-time reduction in EPC project-based organizations, including the engineering, procurement, and construction activities, various elements such as organizational issues, firm resources, used methods and techniques, and performance measuring tools are important. In this study, the four mentioned elements are evaluated through a survey in different EPC project-based organizations. The survey is sent to only experts and managers who are involved in EPC projects, and the obtained data is used to test the relationship between the mentioned variables and the lead time of developing new products. This evaluation is followed by a set of generalized lessons learned and courses of action to improve the development process. Additionally, the attributes of performance measurement in such projects are scrutinized. Therefore, to analyze the impacts of the mentioned variables and their variations on the performance measurement, a mathematical model based on the fuzzy approach is developed. The results show that all of the four considered variables are correlated to the lead time and affect the quality perceived by the main client and the cost of the project. Moreover, data obtained from the proposed mathematical formulations illustrated that the fuzzy modeling approach is an effective method to predict the performance measurement level when the levels of the input variables are given.

The potential of blockchain technology in advancing sustainable energy: a study on the mediating role of specialization in the growth of Chinese hidden champions

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“…Findings are based on 150 Chinese-listed hidden champions, including 1,448 observations from 2010 to 2019. This paper aims to provide sufficient empirical evidence for the growth of hidden champions from the perspective of enterprise internal innovation (Ghadiri Nejad et al, 2018;Ghasemi et al, 2022;Golabi and Nejad, 2022). Firstly, it examines the impact of innovation heterogeneity on the growth of hidden champions, thereby expanding the existing body of literature on growth factors for hidden champions that primarily focuses on core competence theory and innovation development theory.…”

Assessing the Potential Growth of Iran’s Hospitals with Regard to the Sustainable Management of Medical Tourism

“…Te service providers and supporters should cultivate a longterm relationship: one that not only satisfes stakeholders and their needs but also nurtures innovation and sustainability to provide safe and advanced medical treatments [34]. Two principal elements of needs, the coveted quality of life and limitations, and the environmental capacity for these needs should be considered to accomplish sustainability [35,36].…”

The role of blockchain technology in advancing sustainable energy with security settlement: enhancing security and efficiency in China’s security market

“…Therefore, an alliance chain that balances the advantages and disadvantages between "centralization" and "decentralization" should be adopted to constrain private chains and prohibit public chains. Second, embedding the Securities Regulatory Commission as a primary node and the stock exchange as a secondary node into the blockchain can improve its efficiency in obtaining information and facilitate regulation (Ghasemi et al, 2022;Golabi and Nejad, 2022;Schulhofer-Wohl, 2022;Ibeanu et al, 2023). Third, it is required that all financial regulatory departments establish a unified and information-sharing central regulatory information platform and central monitoring system, strictly regulate the connections between securities markets, and collect and analyze relevant information to improve the timeliness and effectiveness of regulation.…”