Key performance indicator (KPI)
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The construction industry in comparison to other industries are in general considered to be under performed, usually involving postponements and errors throughout the process. When determining the development in a country it is common to measure this by the development of infrastructure. It is therefore crucial for a country to have an effective and efficient construction process, depending on a high quality of financial, technical, organisational and managerial movements. In order to deliver a successful project, there are many factors to take into consideration. The management are the basis of a project or portfolio, and it is therefore significant to distinguish the orientation of the project at an early stage. | The construction industry in comparison to other industries are in general considered to be under performed, usually involving postponements and errors throughout the process. When determining the development in a country it is common to measure this by the development of infrastructure. It is therefore crucial for a country to have an effective and efficient construction process, depending on a high quality of financial, technical, organisational and managerial movements. In order to deliver a successful project, there are many factors to take into consideration. The management are the basis of a project or portfolio, and it is therefore significant to distinguish the orientation of the project at an early stage. | ||
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==References== | ==References== | ||
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↑ http://global.britannica.com/EBchecked/topic/378410/methodic-doubt | ↑ http://global.britannica.com/EBchecked/topic/378410/methodic-doubt | ||
Revision as of 21:57, 22 February 2019
Abstract
The performance of an organization or project can be measured using key performance indicators (KPI). Although the benefits of Key Performance Indicators are yet to be discovered by the construction industry, they represent a set of measures which focuses on aspects regarding organisational performance that are extremely vital for the current and future success of the organisation (Parmenter, 2004). If company managers and staff focus on the KPIs together, it can guide an organisation to improve performance effetctively, if used precisely.
To measure their success, different business industries have various sets ´of KPIs. Companies in the construction industry use specific indicators such as reviewing the cost of materials in comparison to the predetermined budget, the financial advantage of construction projects and lastly, the frequency of safety incidents (Vitez, 2010). Within project management, there are a wide range of tools that can be used to asses the progress towards a target to be achieved and are usually decided at an early stage of the project.
Introduction
The construction industry in comparison to other industries are in general considered to be under performed, usually involving postponements and errors throughout the process. When determining the development in a country it is common to measure this by the development of infrastructure. It is therefore crucial for a country to have an effective and efficient construction process, depending on a high quality of financial, technical, organisational and managerial movements. In order to deliver a successful project, there are many factors to take into consideration. The management are the basis of a project or portfolio, and it is therefore significant to distinguish the orientation of the project at an early stage.
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References
↑ http://global.britannica.com/EBchecked/topic/378410/methodic-doubt
