Quantitative approach for project performance measurement on building construction in South Korea

Abstract

In general, the performance of a particular construction project can be evaluated by how many of the project goals are achieved in terms of cost, time, quality, safety, environment, and so forth. However, in the construction industry, which is characterized as project specific, a clear delineation of scope of performance is absent, and the standard procedure and operations are not fully developed. Thus, it is very difficult to assess an overall performance level of a constructed project in a reasonable manner. The objective of this research is to define a quantitative performance measurement system and establish the evaluation criteria by identifying 18 key performance indicators, focusing on residential building projects. Based on the performance assessment methodology, 22 project cases have been collected for comparative analysis and have been evaluated to determine whether the system is applicable to the potential projects. The set of identified performance indicators is also useful in developing a customized performance measurement system for a particular type of project. The research findings are expected to encourage the project stakeholders to develop a performance-based project control system, thereby enhancing their level of satisfaction.

Fuzzy-Based Composite Indicator Development Methodology for Evaluating Overall Project Performance

“…On one side of the performance evaluation spectrum, researchers in the construction discipline have identified project success criteria or key performance indicators (Al-Tmeemy et al 2011;Cha, Kim 2011;Chan et al 2004;Dainty et al 2003;Lim, Mohamed 1999;Shenhar et al 1997) and developed computer-aided systems to measure and track these indicators in a rapid and consistent way (Marques et al 2011;Cheung 2004;Kumaraswamy, Thorpe 1996). This approach helps construction companies and governments pinpoint their systems' weaknesses and develop a managerial plan for addressing these weaknesses.…”

Assessment of Performance Measurement Frameworks Supporting the Implementation of Lean Construction

“…KPI models have been widely applied in the construction industry, aiming to eliminate inefficiency and maximize cost effectiveness and productivity (Cha and Kim 2011), yet significantly criticised as lagging measures, inappropriate for decision making, performance improvement and change opportunities (Bassioni et al, 2004). Lantelme and Formoso (2000) pointed out the important role PM plays in process control and LP systems in general, providing process transparency and assisting the conversion of usually invisible attributes to visible.…”

A Review on Implication of Material Management to Project Performance

“…Furthermore, time is widely recognized as minimum performance measured and one of the primary criteria of project success [13,[39][40]. As shown in table 1, total of 24 papers mentioned that material management affect time performance.…”