Abstract
An early-warning performance monitoring system (EPMS) is proposed to objectively measure and monitor the performance of a project for early detection of inherent poor performance problems. The EPMS is built based on project progress data and consists of a database of business information, an optimized theoretical model used as a performance measurement baseline, and an index for monitoring and forecasting the performance. By monitoring the performance through an application of the EPMS to the Korean construction project, the quarterly variation of index was found to differ by project type. These results could explain the environmental changes in the project execution. Therefore, the EPMS is expected to be an alternative for objective performance monitoring and forecasting while applying the existing methods is difficult because of the limited available data on performance indicators. The development procedures may also be useful to researchers interested in approaches to quantitatively analyze trends in various industries.
| Original language | English |
|---|---|
| Pages (from-to) | 730-743 |
| Number of pages | 14 |
| Journal | International Journal of Project Management |
| Volume | 36 |
| Issue number | 5 |
| DOIs | |
| Publication status | Published - 2018 Jul |
Bibliographical note
Funding Information:Funding: This research was supported by the National Research Foundation [grant number NRF-2017R1A6A3A11036442 ] funded by the Ministry of Education of Korea .
Publisher Copyright:
© 2018 Elsevier Ltd and Association for Project Management and the International Project Management Association
Keywords
- Construction project types
- Early-warning system
- Performance index
- Performance measurement baseline
- Performance monitoring and forecasting
ASJC Scopus subject areas
- Business and International Management
- Management of Technology and Innovation