Establishing a performance index for construction project managers

by Virendra Kumar Paul, Sushil Kumar Solanki, Abhijit Rastogi and Parnika Singh Yadav

Establishing a performance index for construction project managers: The exponential growth of the construction industry globally is playing a momentous role in propelling the development of the nations.

With the projected contribution to GDP to be at around 13% by 2050, the construction industry became the second-largest FDI equity recipient sector for India in 2020–2022.

Additionally, the real estate sector in the Indian market is expected to reach the market size of 1USD Tn by 2030. With such advancements in the financial and technological systems of construction projects, processes and implementation mechanisms are turning out to be dynamic and uncertain, thereby giving rise to the need of project managers with relevant skill sets enabled to accomplish such construction projects.

Further, the performance of an organization is driven by the successful delivery of construction projects, which in turn is significantly dependent on construction project manager’s performance.

Establishing a performance index for construction project managers: With increasing competition and onset of new organizations, it is important to ameliorate the performance of a construction project manager to achieve better performance.

It is, therefore, crucial to maintain and enhance the performance of projects and organizations in order to maintain competitiveness within the construction industry in the long run.

The evaluation of performance of each employee/manager handling projects is important for the determination of the individual as well as team shortcomings and areas for improvement.

Moreover, the evaluation of performance also helps the individuals to self-assess their performance as well as managers to evaluate the performance of other individuals based on the projects handled by them.

This approach is also useful during the appraisal process of individuals working in the organization described in Establishing a performance index for construction project managers.

Hence, organizations need to identify and evaluate the key indicators to measure the performance of the organization as well as individual employees at different stages, thereby providing a scope of improvement within the organization in specific areas.