Capital project performance measurement and benchmarking in Singapore

Abstract

PurposeThe purpose of this paper is to identify the implementation status of performance measurement and benchmarking in the Singapore construction industry and to provide some suggestions to increase the scale of implementation in these two areas.Design/methodology/approachA comprehensive literature review was first carried out, then a questionnaire was developed and 32 contractor firms participated in the survey.FindingsIt was found that contractor firms in Singapore do not practice performance measurement on a regular basis and there is no uniformity in calculation of performance metrics, leading to low usage of benchmarking.Research limitations/implicationsOne of the limitations faced during this study was the low number of companies that responded. Another limitation is that the size of projects analyzed tended to be focused towards a relatively small and medium scale.Practical implicationsDevelopment of a standardized performance measurement and benchmarking system in Singapore is required. Also, common definitions are vital to enable uniform data collection and the meaningful comparison of performance.Originality/valueThis study will help the Singapore construction industry to remain competitive internationally and to continue to attract foreign investors for its capital projects.