Performance Measurment and Lead-Time Reduction in EPC Project-Based Organizations: A Mathematical Modeling Approach (original) (raw)
Related papers
iaeme
Engineering procurement construction projects play an important role in national economic development. India, which contributed approximately 8.5% to the total of India’s GDP. Project schedule slips, budget overruns, compromised quality, resulting claims and counter-claims problems have plagued the industry. The reasons for poor project performances abound. Previous researches have dealt much with the problems of project risk and uncertainty, variations in project outcomes, work fragmentation, complex relationships among stakeholders and activities, and excessive phase overlaps in general. In this paper dealt with EPC industries project success factors Construction projects are implementing different phases., viz., conception phase, definition phase, planning phase, scheduling phase, controlling phase and termination phase Various factors affect construction projects performance and success of projects i.e., completion periods of projects , project budget and better service to owner’s of project. The objective of this paper studying success factors variables, project functions, project activities, of project team members, project team members skills, attitude, experience, project tools, methods of project implementation enhancing the business performance of engineering procurement construction industries. Construction projects completion times are in line with owner’s requirements, and identifying gap reduction factors between project budget and project cost and improving business performance enhancing factors for construction project industries. To collect data, to record the collected data in tabular format, to analyze the recorded data by using statistical procedure and interpret ate success factors plays role in the EPC industry business operations
Empirical Study On Causes Of Project Delays
2017
Renowned offshore organizations are drifting towards collaborative exertion to win and implement international projects for business gains. However, devoid of financial constraints, with the availability of skilled professionals, and despite improved project management practices through state-of-the-art tools and techniques, project delays have become a norm these days. This situation calls for exploring the factor(s) affecting the bonding between project management performance and project success. In the context of the well-known 3M's of project management (that is, manpower, machinery, and materials), machinery and materials are dependent upon manpower. Because the body of knowledge inveterate on the influence of national culture on men, hence, the realization of the impact on the link between project management performance and project success need to be investigated in detail to arrive at the possible cause(s) of project delays. This research initiative was, therefore, undert...
Project Delay and Managing Project Performance among Construction Companies: Literature Review
IJMRAP, 2021
Project management is a contemporary management concept. It develops in the thought and the philosophy of current management. It comprises the concept of the quality of the operations as well as the quality of the products. It encourages the employees to engage in the work team and to concentrates on the beneficiaries and contact with them. In the present worldwide competition and economic progression, quality has turned out to be one of the essential elements for the basic. Even though the issues of natural assurance and enhancing item quality have received noteworthy consideration in numerous nations, Libya seems to have been slower in modernizing ideas that consolidate ecological and quality management. Delay do occur in all the phases, but the major cause of delay takes place in the construction phase. This literature review paper explored the scientific literature provided by the major publishers regarding project management including books, journals, conferences, as well as previous relevant studies handling the factors Influencing the Project Delay and Managing Project Performance among Construction Companies. The next section will highlight the major concerns. This research provides the reason for choosing the topic and the subject of the researcher for several factors, the most important is that the subject of PM is one of the modern topics in the science of management, in Libya and it is one of the areas that have become much discussed and vital in these days. It was appropriate to determine the impact of the application of this topic on public projects in Libya and to know the extent to which project managers are aware of what is going on in this field at the global level. To know the importance of project quality in project management and its role in the process of planning, implementing, monitoring, and evaluating projects, and to manage resources in such a way that the work required through these resources can be accomplished by restricting the specific scope of the project and considering the commitment to quality, timing, and cost factors.
A Quantitative Model Proposal for the Assesment of Project Performance: The Bridge Model
Celal Bayar Üniversitesi Sosyal Bilimler Dergisi, 2015
Project performance models should serve as managerial measurement tools that evaluate the various aspects of projects with a holistic approach. However, predate models in the literature generally focus on limited performance indicators of projects-such as budget and time-for performance assessment and they lack broad perspective. In this respect, we aimed to introduce and propose a new model for the quantitative, effective and holistic evaluation of projects. The proposed model is originally developed as a conceptual approach by Livvarcin (2013) and entitled as The Bridge Model. In this study we enlarged the study and embodied the project performance parameters. In this study, we examine project performance by focusing on two different parameter groups: Process parameters and indicator parameters. Process parameters include seven elements of The Bridge Model, these are preparation phase, initiation phase, implementation phase, closing phase, post-project phase, project atmosphere and project actors. Indicator parameters are measures that are similar to the project parameters used in existing project performance models and they include cost, time, quality, performance of outcomes, motivation, development and competitiveness. We also performed a pilot study to figure out the performance of 42 different projects by using the performance parameters of the proposed model. We proved the validity and reliability of our model by using both quantitaive and qualitative methodologies.
IFIP Advances in Information and Communication Technology, 2015
Today, in new product development projects, "NPDs", time is the cutting edge. The time to market in new product development projects is a key factor in the competition between innovative companies. Research has shown that time can be managed, and speed too. Our concern in this paper is to study the time factor in the case of new product development projects based on a time-cost trade-off curve, which is important for the project success by delivering the product as fast as possible. We will explain the motivation behind delivering fast in NPD projects. In construction projects, a customer initially contracts for a project from a contractor based on specifications, budget and delay. Time to market is a key success factor in new product development projects. Does time to delivery have high importance in construction projects? We conclude by showing the significance of NPD projects' speed with respect to management in construction projects.
2010
Main purpose of this study is to explore relationships between collaborative supply chain to project performance measures and the contribution of these measures to corporate performance measures in engineering, procurement, and construction (EPC) industry. Collaborative supply chain is useful due to the fact that EPC projects require multidiscipline capabilities, but it is also challenging because of the short term contractual relationships among parties in the collaboration. The existence of EPC contracting companies is important to support the development of infrastructure projects in developing countries. Integrated scope and concurrent project cycle development within EPC contract enable the projects to be developed in a more timely and efficient manner. Contribution of project performance to corporate performance in this industry plays a critical role to maintain sustainable capabilities and growth of an EPC company. A series of interview and survey will be undertaken to acquire information from executives in EPC companies regarding their perception on performance measures of projects and how these measures may support the corporate performance. Constructs emerge from the interviews, will be compared with a predetermined conceptual constructs based on previous research and references. Result of this research may be used as the basis for defining the EPC companies' corporate performance objectives as a function of collaborative project performance measures. The finding may also be used in assessing the capability of EPC companies to cope with the challenge of accelerated infrastructure development in developing countries. Although a considerable number of construction companies have been developing an EPC division or subsidiary in the past five years, the number of established EPC contractors operating in Indonesia is very limited (less than twenty companies). This limited number of EPC companies implies that data collection activity in this research should consider the ability to represent the industry characteristics.
This paper presents a study on the development of a performance matrix to measure the new product development project performance for a small car producer in Malaysia. This study was carried out through open-ended interview sessions, involving a couple of project managers, a new product introduction manager and senior product planning manager and engineers. The questionnaires were developed based on the literatures and pre-tested prior the interview sessions. The feedbacks were used to identify the most important internal and external performance outcomes that crucial to the car producer. The development lead-time represents the efficiency, while the market share represents the effectiveness of the product development process. The performance matrix was successfully developed and the relation between the development lead time and market share is asymmetric. This performance matrix is best used for comparing NPD performances between plan and actual of a developed project, as well as between actual performances of a previous project and a new project that are having a similar project scopes and contents. The application of the performance matrix through a case study indicates that the success or failure status of the new product development project can be determined. The performance matrix is found to be viable and suitable for this indigenous car producer.
As the name suggested this project totally focused on which factor implies on to the lead time, study the process flow an order through various department. According to that select the best path in the project where most critical events are related. Following some of finished and running styles of different buyers, as well as lead time analysis of selected styles. After that analysis of factor, which are internal as well as external. External factor beyond the control of manufacturer but internal factor are very well control of manufacturer. Productivity improvement in the modern sense has been a topic of increasing the factors which are responsible for efficiency. It is absolutely clear in that project Indian textile(apparel) industry will need to improve its performance on productivity, quality, lead time, technology up gradation and creating an efficient domestic apparel retail sector to be able to complete success in the global market place.
Introduction to Research Handbook on Project Performance
Edward Elgar Publishing eBooks, 2023
Without exception, an organization typically strives to create value for its shareholders by achieving its strategic objectives, thereby creating a healthy profit. More often than not, projects are the instruments by which an organization pursues accomplishment of its strategic objectives. While achieving strategic objectives or higher profit, projects are driven by project management principles of effective and efficient use of resources. This is where project performance assumes great importance. Project performance also aims to improve the success of a project and project management. Project success is seen from the perspectives of the project sponsor, the client, and the end user, whereas project management success is important for the project manager and the project team who focus on completing the project faster, better, and cheaper while accomplishing all the project objectives and goals. The successful efforts of the project team lead to project success in terms of project deliverables meeting clients' expectations such as cost, time, quality, and value. Both project success and project management success depend on a variety of factors. In spite of recent advances in the project management profession-largely due to efforts led by professional associations such as the Association for Advancement of Cost Engineering International (AACEI), Project Management Institute (PMI), and International Project Management Association (IPMA)-research efforts suggest that many projects fail. One of the main reasons for this failure is the absence of a desired level of project performance. Effective project performance also underlines the important role of a project manager. Specifically, the project manager's leadership role is of great importance in motivating people and creating an effective working environment for the project team to meet emerging challenges in today's global economy. Further, sustainability has become undeniably important; along with ensuring profits, projects need to consider thought-leadership practices for both people management and minimizing the impact on our planet's environment. This research handbook presents a number of chapters written by accomplished researchers and the topics vary widely. We organized them into three parts. The first part, "Backdrop," includes this chapter as an introduction to the book and chapters that deal with project performance concepts and methods. The second part, "Tactics, Strategies, and Risks," presents a series of chapters on the tactics, strategies, and risks associated with project performance. Finally, the third part, "Next Practices," includes chapters that deal with next practices and new trends in project management that can have a major impact on project performance. CHAPTER 2 Ahmed outlines the current understanding of project performance measures and metrics from a project management perspective. Project performance success criteria and its different
2019
This study focuses on the factors that cause project delays in an industrial hydraulic company. More specifically, the article also addresses the development of on-demand engineered products and the impact of the procurement process on delays. As part of the investigation, the authors assessed the historical data of the projects completed in 2017 before determining the critical path for each project in an attempt to identify which project stages may be improved. After further assessing the resulting data, the planning and procurement procedures were deemed as requiring improvement. Next, the article proposes a training plan and new procedures based on the Project Management Body of Knowledge guidelines for Engineer-to-Order projects. In conclusion, the results showed that delays were effectively reduced after implementing these new procedures in both Project Management stages.