Madushika, W H S; Perera, B A K S; Ekanayake, B J and Shen, G Q P (2020) Key performance indicators of value management in the Sri Lankan construction industry. International Journal of Construction Management, 20(2), pp. 157-168. ISSN 1562-3599
Abstract
Value management (VM) enhances the value of construction projects. However, presently there is no tool available to measure the performance of VM. Hence, this research was aimed to investigate the key performance indicators (KPIs) of VM in the construction industry in Sri Lanka. The scope was limited to probing only the KPIs of VM in the pre-construction stage. The research used a mixed research approach consisting of 10 semi-structured interviews and a questionnaire survey conducted among 70 professionals. Findings were analyzed using content analysis and mean weighted rating. Elemental design stage was found to be the most appropriate stage for VM implementation. The most appropriate VM technique for each construction stage and the five best KPIs for that stage along with the 10 most significant KPIs for cost, time and quality were identified. The research recommends considering these KPIs when implementing VM techniques in different stages of construction.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction projects; key performance indicators; performance measurement; pre-construction stage; value management |
| Index terms: | key performance indicator, performance measurement, pre-construction, Sri Lanka, value management, construction industry, implementation, interview, survey, content analysis, questionnaire, design stage, construction project |
| Subjects: | data collection methods, project delivery, professional practice, data analysis and analytics, contractual arrangements, production management, Geography, management, performance measurement, industry analysis |
| Topics: | Design Practice, Value Management, Quality Management, Research Practice, Geographical Context, Project Management, Procurement |
| Descriptive scope: | 5 PCTEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here