MULTIDIMENSIONAL APPROACH TO CONSTRUCTION PROJECT PERFORMANCE EVALUATION: AN EMPIRICAL STUDY

Abstract

This paper presents a novel and accessible 4D approach to project performance evaluation, surpassing traditional techniques. The conventional method relies on physical, time, and financial factors that may be insufficient for complex projects, particularly in developing countries. To address this, the paper suggests a 4D approach that considers different scenarios, analyzed with graphs and tables to achieve a more accurate evaluation of project performance. The proposed approach effectively identifies hidden issues, predicts their occurrence, possible delay, over cost and enables project managers to take proactive measures to ensure success, similar to what is done in the medical world. This method facilitates informed decision-making and resource allocation, essential for achieving project objectives. A hypothetical project demonstrates the effectiveness of this approach. In conclusion, adopting this 4D approach can help project managers identify potential issues, make informed decisions, and take appropriate action for project success in different stage of project life time.