Abstract
The Last Planner System (LPS) is a production planning and control system that utilizes the lean construction philosophy to improve workflow reliability. Although there are several metrics developed to measure the performance of LPS, the current metrics fail to genuinely reflect the actual performance of LPS. The literature review shows no evidence of existing researches that provide a holistic approach to measure the performance of LPS. Consequently, this research aims to propose a new holistic approach to measure the performance of LPS called valuation. The objectives of this research are: (1) to provide an overview of the current metrics used to measure the performance of LPS, (2) to propose 10 steps to measure the performance of LPS based on the valuation approach, (3) to utilize the valuation approach to derive numerous metrics based on all possible relationships between the main and sub (i.e., activity and constraint) categories of LPS that currently available or may emerge in the future. This research contributes to the body of knowledge by deriving metrics based on the valuation approach that are significantly more comprehensive and mathematically more robust since they integrate several criteria and rely on the value rather than the number or amount of activities or constraints. Hence, the valuation approach generates more accurate results. Moreover, the valuation approach can help the construction professionals to track the performance of LPS across phases or even projects by accumulating the data and measuring the proposed metrics.
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