TY - JOUR
T1 - Early-warning performance monitoring system (EPMS) using the business information of a project
AU - Kim, Chang Won
AU - Yoo, Wi Sung
AU - Lim, Hyunsu
AU - Yu, Ilhan
AU - Cho, Hunhee
AU - Kang, Kyung In
N1 - 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
Copyright:
Copyright 2018 Elsevier B.V., All rights reserved.
PY - 2018/7
Y1 - 2018/7
N2 - 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.
AB - 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.
KW - Construction project types
KW - Early-warning system
KW - Performance index
KW - Performance measurement baseline
KW - Performance monitoring and forecasting
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U2 - 10.1016/j.ijproman.2018.03.010
DO - 10.1016/j.ijproman.2018.03.010
M3 - Article
AN - SCOPUS:85045446922
VL - 36
SP - 730
EP - 743
JO - International Journal of Project Management
JF - International Journal of Project Management
SN - 0263-7863
IS - 5
ER -