Beyond the ‘iron triangle’: Stakeholder perception of key performance indikator (KPIs) in large-scale public sector development projects
This research has objectives to investigate the perception of the key performance indicator (KPIs) in the context of large construction project in Thailand (Second Bangkok International Airport or Suvarna bhumi Airport). The research attempted to achieve the following objective:
1. The significance of key performance indicators in perspective of various construction stakeholders (client, consultants, and contractors).
2. Finding indicate that the traditional measure of the iron triangle (on-time, under budget, and according to spesifications) are no more applicable to measuring performance on large public sector development projects
Method of the research using literature review and preliminary interviews with academic research and industry experts, a catalog of 9 KPIs was prepared in form of a questionnaire. The research investigation was conducted using a survey towards project manager, deputy project managers, and line manager on the project site. In addition to the questionnaires, face-to-face interviews were also conducted.
Demographic respondents divide into; respondents’ experience in project management, profile of the respondents, educational background of respondents, nationality and native languages of respondents, and type of organization.
The survey result of this research found that top ranked KPIs are completion ‘on time’, ‘under budget’,’efficiently’,’safety’, and ‘according to spesifications’. From this case we can analyze, on large construction projects, respondents are conscious about the ‘iron triangle’ of construction industry. However, the study findings there is significant concern about effeciency and safety. These result show that the stakeholders are starting to think beyond the traditional measure of project performance....
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