Chan, T K and Hiap, P T (2012) A balanced scorecard approach to measuring industry performance. Journal of Construction in Developing Countries, 17(S1), pp. 23-41. ISSN 1823-6499
Abstract
Stakeholders of the Malaysian construction industry produced a Construction Industry Master Plan to chart the strategic direction for the industry for a ten-year period between 2006 and 2015. The objectives of this paper were to review the recommendations of the master plan using the Balanced Scorecard approach, to develop a performance management framework for the construction industry and to propose a set of performance measures to allow stakeholders to monitor the progress of the implementation of the master plan in achieving its strategic aims. The Balanced Scorecard approach was used to evaluate the critical success factors, strategic thrusts and recommendations to ensure that the master plan presents a balanced view to enhance the industry's competitive standing. The review revealed that the recommendations generally address all four Balanced Scorecard perspectives but lacked focus on customer relationships in the customer perspective and customer management in the Internal Processes Perspective. Additional recommendations are suggested to address these gaps. A list of key performance measures for the Malaysian construction industry has been selected by linking each strategic thrust with the relevant performance measures.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | balanced scorecard; benchmarking; construction industry; performance measurement |
| Index terms: | benchmarking, performance management framework, critical success factor, performance measure, implementation, industry performance, construction industry, performance measurement, balanced scorecard |
| Subjects: | financial analysis, industry analysis, performance management, performance measurement, contractual arrangements, control systems |
| Topics: | Cost Management, Project Management, Research Practice, Procurement, Quality Management |
| Descriptive scope: | 4 PCTA |
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