Abstract:
Over the past few decades, the complex global business environment and
increasing business competitiveness have highlighted the importance of performance
evaluation in the construction industry which has long been criticized for its
underperformance. Performance evaluation is the process of quantifying the
efficiency and effectiveness of past actions, and a performance measure is a parameter
used to quantify the efficiency and/or effectiveness of past actions. With the
development of performance measurement in the construction industry over the past
decades, the performance evaluation has extended to the organizational level and the
project stakeholder level from just being concentrated on the project budget and
schedule alone.
Engineering, Procurement and Construction (EPC) projects are one such kind of
construction projects that require careful evaluation of its performance throughout and
hence this research was carried out to identify the performance indicators of EPC
projects in Kerala, which were then prioritized using Analytical Hierarchy Process
(AHP) for important stakeholder categories of EPC project. Out of all indicators
client’s satisfaction, contractor’s and supplier’s overall performance, experience of
the client and contractor, user’s satisfaction, performance of the infrastructure, value
for money, project profitability and appropriateness of the project size and location
were the most important ones.
An EPC project in Kerala was selected to conduct its performance evaluation.
The indicators in the project were ranked using RII and compared with the AHP
results for different stakeholder categories. Performance Prism framework, which is a
holistic framework that evaluates different stakeholder perceptions of the project was
then used to determine the performance efficiency of the EPC project in Kerala. This
study can act as a base for the use of the Performance Prism framework in EPC
project performance evaluation.
