Multi-criteria analysis of Projects' performance in construction

Abstract

Construction companies usually perform several construction projects at the same time. Projects differ by complexity, duration, budget, variety of works, and number of implementers. Also vary the results of the projects: some of them have been implemented successfully, other terminated with losses or accidents. To determine the causes of one or another result the analysis of project work flow indicators should be performed. The evaluation of project indicators during implementation is not easy task due to the lack of up to date data and indicators measuring problem. The purpose of the research was to analyze common project management problems, the success factors of construction projects and to illustrate how to assess a projects' execution efficiency by mean of the aggregated indicator in particular company. In case study the problem of project performance indicators selection was analyzed, the aggregated project's performance criterion was determined by applying the methods of multi-criteria analysis and logarithmic normalization method was applied. Results show that by using the aggregated indicators it is easy to compare the projects, the received impartial information is useful for strategic planning, quality management, for solving the tasks of resource allocation, motivational project evaluation.