Beyond the ‘Iron Triangle’: Stakeholder Perception of Key Performance Indikator (Kpis) in Large-Scale Public Sector Development Projects

953 Words Oct 12th, 2012 4 Pages
Beyond the ‘iron triangle’: Stakeholder perception of key performance indikator (KPIs) in large-scale public sector development projects

Objectives

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
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First, the core of project performance evaluation which related to time, budget, and qualiy. Secondly, KPIs that support achieveness of the core, which related to safety, effeciency, and effectiveness/precision. Third, qualitative measures of success which related to ‘free from defect/high quality of workmanship’, ’conforms to stakeholders expectations’ and ‘minimized construction aggravation , disputes, and conflicts’.

Results in this research gives an overview that perception of some KPIs does differ across various construction stakeholders. This finding is plausible given different vested interest of various stakeholders involved in the project. However, profesionals do not differ significantly in their perception about KPIs across various levels of experience

Conclusion

An important part of project management is performance measurement. Performance measurement criteria vary from project to project. From this research we can conclude other performance indicators such as safety, effeciency, effectiveness, satisfaction of stakeholders, and reduce conflict and disputes are increasingly becoming important besides the iron triangle. This implies that in large project, performance measurement should implement quantitative and qualitative indicators

Question : KPI in the Project

1. How do you explain the similarities and differences between KPI in the Bangkok Airport Project and similar project in Heathrow Terminal 5

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