This blog is part of a series you will find out that companies with high levels of performance visibility are well placed to deliver successful construction project.
Demonstrating its own commitment to measurement, Procore commissioned Sapio Research to get an industry perspective on the extent to which construction businesses have visibility of performance. Sapio conducted an online survey in January 2021 among 820 middle managers and above, working for construction companies of 100 employees or more. Respondents were located in the UK and Ireland, France, Netherlands, Germany, UAE, and Canada; with roughly equal-sized samples in each location, the results are not skewed by any one country, usefully providing both national and international perspectives. This report is focused on the UK and Ireland, with insights provided by middle managers.
KPIs measure the factors that are critical for success. They are also used by Banks to assess if a company is a good or bad credit risk.
Benchmarking is a continuous process of comparing your performance against the competition to learn lessons from the best in the industry and make targeted improvements. For example, if you have agreements with more than one contractor under your framework, you can use benchmarking to compare their performance, so they will learn from each other and start to increase their challenging targets.
What to measure o Training completion and percentage rate o Turnover rate o Worker satisfaction
Getting started on measuring and benchmarking has never been easier: - You will probably also need a few KPIs that are specific to your framework or project. - You are unlikely to have a balanced set of measures if you just measure the contractor’s performance. Consider also how to measure the success of the whole project team. - Above all, keep it simple with a manageable
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