Diagnosing the status of performance measurement and benchmarking in the Singapore construction industry

Abstract

Performance measurement is one of the effective ways of determining the success of a project. With successful implementation of performance measurement, an organization can conduct benchmarking, which is to compare the measured performance with that of its competitors, eventually improving project performance and probability of project success. The current trend of implementation of performance measurement and benchmarking in the Singapore construction industry is relatively unknown due to insufficient research conducted in this area. Coupled with the increased global usage of these tools and the growing importance of implementing them into projects, this study aims to identify the current performance measurement trends in Singapore and to propose some recommendations, intending a larger scale of implementation of performance measurement and benchmarking into the industry. To achieve these objectives, a questionnaire was developed and 32 companies participated in the survey. The findings from this study revealed that contractor firms in Singapore do not practice performance measurement on a regular basis and there is no uniformity in calculation of performances, leading to low usage of benchmarking. As a result, it is recommended that contractors should first be aware of the benefits that performance measurement and benchmarking can bring in and be equipped with knowledge of applying these strategies to their projects, so as to achieve optimal performances and to be reshaped as a sustainable industry.