Acknowledgement
This research was supported by a grant (05CIT-D05-01) from Construction Technology Innovation Program funded by Ministry of Land, Transport and Maritime Affairs of Korean government.
International conference on construction engineering and project management (국제학술발표논문집)
- 2009.05a
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- Pages.935-941
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- 2009
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- 2508-9048(eISSN)
Performance Management System for Benchmarking in Construction Companies
- You-Jin, Jang (Dept. of Architecture, College of Engineering, Seoul National University) ;
- Moon-Seo, Park (Dept. of Architecture, College of Engineering, Seoul National University) ;
- Hyun-Soo, Lee (Dept. of Architecture, College of Engineering, Seoul National University)
- Published : 2009.05.27
Abstract
In competitive society, performance management is an essential element of business success. Despite the importance of performance management, it has not been widely implemented in construction companies. In the recent years, construction companies have become more aware of its need to identify, implement, and sustain performance improvements more systematically. Thus, the objective of this paper is to develop performance management system (PMS) for construction companies. The roles of performance management system is not only measuring performance but also offering guidance to improve performance. Therefore, PMS needs benchmarking process that provides Best Practice and new knowledge. This paper investigates the case of PMSs in UK, USA, Brazil, and Chile and discusses the lessons learned. To overcome the limitations of existing PMSs, new performance measurement framework, in form of 'Construction' BSC, is proposed. Based on the 'Construction' BSC, key performance indicators are derived and methodology of performance management is suggested. This paper concludes by developing PMS for benchmarking in construction companies and recommending some further directions on this research topic.