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Finding Differences among Construction Companies' Management Practices and Their Relation to Project Performance

Abstract:

The performance of construction companies is linked to the performance of their projects because their financial success and the satisfaction of their clients depends on it. However, most studies of construction companies' performance consider mainly the corporate aspects but not the performance they achieve in their projects as a result of their management practices. A key issue is determining the differences among management practices used by construction companies that provide them with a competitive advantage, which was the purpose of this study. To achieve this goal, nine construction companies were selected for participation in this collaborative benchmarking study, and the management practices that differentiate the investigated construction companies were determined. The results highlight the relevance of the management of information and communication and the importance of lean management practices as the tools for analysis and planning or to improve processes. Construction companies' managers should consider these differentiating elements as a path to achieve competitive advantage.