| Title |
A Model for Developing Composite Indicators for Construction Project Performance Evaluation |
| Authors |
Jeon, Me-Yeon ; YuJung-Ho |
| Keywords |
Performance Management ; Performance Evaluation ; Composite Indicators ; Fuzzy Measure ; Fuzzy Integral ; Utility Function |
| Abstract |
A construction project has a complicated structure as it consists of many processes by various stakeholders. Performance measures are a key aspect of performance management. They are utilized to determine whether goals have been achieved and organizational strategy. Therefore, it is necessary to properly utilize performance indicators that can be measured quantitatively for objective performance measurement and management. In performance management, although performance is measured thru performance indicators, there are several problems in aggregate since performance indicators can have various attributes. Thus, composite indicators are required to aggregate various performance indicators for overall performance measurement of a construction project. This paper proposes a methodology to develop a composite performance indicator for a construction project to quantitatively measure construction project performance. This paper chooses standardization using a utility function to develop the composite indicator, and a fuzzy measure and fuzzy integral method for weighting and composite through review of advanced research in the development of construction composite indicators. The model consists of three parts: a standardization model, fuzzy measure and fuzzy integral. The proposed model focused on performance measures through a quantitative performance indicator for each project of a construction company. Case studies were utilized to validate the efficiency and customizability of the proposed methodology using fifty-two cases and three indicators (sales completion rate, cost spending rate, work productivity) that compose a cost-performance index of a construction company. |