Mohsen Shahandashti, Baabak Ashuri, Ali Touran, Reza Masoumi, Edward Minchin
The purpose of this study is to determine the relative importance of key results areas (KRAs) and develop key performance indicators (KPIs) for construction portfolio performance management. The research methodology consists of the following steps: (1) Designing and conducting a fact-finding survey of owners and contractors to determine the relative importance of KRAs; (2) Designing and conducting structured interviews to develop KPIs; and (3) Assessing the usefulness of the results. Unlike the literature that has consistently highlighted the importance of risk management for construction portfolio performance management, risk management is not among top five KRAs (schedule, cost, cash flow, change management and safety) identified in the survey. This represents the significant gap in how research community and industry look at portfolio performance management. When it comes to dashboard development, contractors and owners have different KRAs within their dashboard for portfolio management. The limited knowledge about the relative importance of KRAs is one of the most important barriers towards managing project portfolios. This study is the first attempt to critically examine the literature and practice of construction portfolio performance management in order to highlight noteworthy differences between KRAs studied by the research community and implemented by the industry.
Other Recent Publications
- Risk Factors and Potential Solutions for the Construction Industry in China
- Case Study of a Local Government Organization’s IT Project Implementation
- W117 Performance Information in Construction: 2018 Research Roadmap Report
- Current Approaches and Models of Complexity Research
- The Best Value Approach in Facility Management: A Case on Cleaning-Related Services