Performance measurement for construction businesses

摘要: Measurement of performance is important to the construction sector as an additional way improving and sustaining competitiveness in long-term. Most large organisations United Kingdom (UK) practise measurement because they believe it affects their business positively longer-term. Performance thus, recognised keeping organisation on track achieving its strategic objectives. However, there are still that does not aid creating developing appropriate strategies for organisations, but helps identifying areas where did or perform well. The improvements can only be brought about through step-by-step guidance achieve targets. first step towards these targets comprises following: understand process identify criteria need measured improve business; strengths opportunities, which turn create a maximise profits organisation. Such approach would help target relevant measurements embed them organisational strategy structured manner. Premised foregoing, this research project aims investigate potential tools practices industry. In addition, assist implementing proper manner process. The (objective 1) review generic body literature key concepts, definitions existing commonly used tools. It noted several measurement. at basic level, determining how successful individuals have been attaining objectives strategies. To this, outputs organisation's operational processes quantifiable form; results monitor closely organisation, internally externally. Findings (and later those 2 3) reveal Balanced Scorecard (BSC) European Foundation Quality Management (EFQM) Excellence Model two most widely known tools, all sectors including construction, measure s performance. Semi-structured interviews (objectives were conducted with directors managers UK companies. revealed being practised directly indirectly businesses profits. purpose was seek views conduct derive benefits from it. All agreed financial aspects such profit margins growth, well non-financial health safety customer satisfaction measured. Both considered included strategy; considerations any future development. suggest best criteria, This led development Framework (also called Migration Path) 4), Its implementation make easy smooth. Evaluation 5) framework confirms suitability acceptability industry players use