Performance Measurement Framework for Prediction and Management of Construction Investments

Abstract

Despite good ideas, great efforts, and high investments, many projects do not end with success. Projects often fail due to a lack of understanding of the project requirements and constraints necessary for overall success. Five selected projects were analyzed in detail through the multiple case study method followed by semi-structured interviews with 56 experts to develop a pattern for the future prediction of project success. This paper aims to identify key factors for project performance in a multi-stakeholder environment, define a performance measurement framework for construction investments, and establish a link between performance measurement and prediction of project performance. The findings could help researchers in modeling performance measurement tools for project managers to achieve their designated project goals, reach better decisions, and achieve full potential in their future projects.Despite good ideas, great efforts, and high investments, many projects do not end with success. Projects often fail due to a lack of understanding of the project requirements and constraints necessary for overall success. Five selected projects were analyzed in detail through the multiple case study method followed by semi-structured interviews with 56 experts to develop a pattern for the future prediction of project success. This paper aims to identify key factors for project performance in a multi-stakeholder environment, define a performance measurement framework for construction investments, and establish a link between performance measurement and prediction of project performance. The findings could help researchers in modeling performance measurement tools for project managers to achieve their designated project goals, reach better decisions, and achieve full potential in their future projects.