Correlation of Construction Performance Indicators and Project Success in a Portfolio of Building Projects

Abstract

Construction management is a highly competitive project-based field of complex specialized services, creating or altering the built environment for a client. For construction projects to be successful, and in turn, for construction firms to be successful, understanding the relationship of performance statistics as indicators of project outcomes, such as cost, time, and profitability, is essential. There have been a number of efforts made to identify key performance indicators related to construction project success. However, due to lack of available data, many questions remain. There lies an opportunity to analyze project statistics as indicators of project success, similar to the way analytics have been used to predict success in sports. Construction firm project data for a portfolio of building projects were analyzed, and this study identifies correlated factors for completed building construction projects. A highlight of this correlation analysis identified profit differential as demonstrating a strong relationship with the number of requests for information and architects supplemental instructions on a project.

The Role of the Total-Quality-Management (TQM) Drivers in Overcoming the Challenges of Implementing TQM in Industrialized-Building-System (IBS) Projects in Malaysia: Experts’ Perspectives

“…TQM in the construction sector is primarily concerned with meeting the demands of the client, structural engineers, contractors, architects, and other construction players [7]. Construction quality management ensures that all phases of construction are completed following the needs of the project stakeholders [8]. TQM has been adopted in numerous organisations throughout the last several decades, to support quality and increase organisational effectiveness [9].…”

A Moderated Mediation Model of Team Focus Transformational Leadership, Team Cohesiveness and Leader-Member Exchange for Project Success

“…This, in turn, will boost customer devotion, loyalty, and satisfaction. When constructing or renovating a client's-built environment, construction management is a highly lucrative project-based field of sophisticated professional services (Cleary & Lamanna, 2022). As construction projects become more complex, they require new technology and innovation.…”

“…Constructional and developmental projects provide oxygen to economic growth and employment platforms for talented youth, especially in developing countries (Chughtai, Syed, & Naseer, 2022). The success of the projects depends on the project's members, but the leader's role and cooperation of leaders and subordinates also become the prime factor for this success (Cleary & Lamanna, 2022). To ensure the accomplishment of construction projects and, by extension, construction organizations, it is vital to have a strong grasp of the association between key performance metrics, including expenditure, timeline, and revenue (Cleary & Lamanna, 2022).…”

“…The success of the projects depends on the project's members, but the leader's role and cooperation of leaders and subordinates also become the prime factor for this success (Cleary & Lamanna, 2022). To ensure the accomplishment of construction projects and, by extension, construction organizations, it is vital to have a strong grasp of the association between key performance metrics, including expenditure, timeline, and revenue (Cleary & Lamanna, 2022). As the most robust single source of revenue for the construction sector, worldwide economies benefit greatly from mega-building projects .…”

“…The construction industry plays an essential role in developing economies, particularly in developing countries, through its contribution to employment, infrastructure development, technology transfer, economic growth, and social development, which makes it a crucial sector for developing these economies. Additionally, a construction project is a more fantastic, time-bound endeavor that creates a construction facility or service with predetermined performance expectations regarding workmanship requirements, completion duration, allocated expenditure, and other specifications (Cleary & Lamanna, 2022;Zheng et al, 2019). The present research contributes in numerous ways; firstly, it will be to the literature of project management and leadership by highlighting the impact of TFTL on PS; secondly, this study also contributes by exploring the mediating mechanism of LMX between the relationship of TFTL and PS.…”