A comprehensive study incorporating structural equation modeling and factor analysis study on the evaluation of performance criteria for infrastructure development projects

Abstract

Infrastructure development projects are vital for economic growth and societal well-being for every phase of any futuristic growth in the region, city, or country as its backbone in structure development, but their success hinges on effective performance evaluation. The present research employs a thorough methodology that integrates Structural Equation Modeling (SEM) and Factor Analysis decision-making tools to examine the interdependencies and comparative significance of diverse performance standards for infrastructure development initiatives. Research has been carried out through numerous parameters on sustainable dimensions in terms of usage as service providers and users. The user’s effect in understanding the endogenous and exogenous factors like traffic flow restrictions, road conditions in the existing road network, AQI (Air Quality Index), urbanization, Los (Level of Service) for roads, travelers characteristics, and interconnected parameters. To identify important dimensions and latent elements that have a substantial impact on the overall success of the project, factor analysis will be used concurrently. The research attempts to identify hidden variables and complex interactions that influence project outcomes through this dual-method approach. Key findings will illustrate the significance for stakeholders to be involved in the project planning process, to take the environment into account, and to ensure the project’s financial viability. Additionally, the study finds both competitive and complimentary correlations between various performance metrics, reinforcing the significance of an extensive assessment strategy.