AN APPRAISAL OF PERFORMANCE MEASUREMENT PRACTICE OF CONSTRUCTION FIRMS IN ANIGERIA

Project Abstract

Performance measurement is crucial to the construction industry in order to improve the performance of the industry and most importantly achieve continuous improvement. The traditional approach to performance measurement has been criticized severally resulting to an evolution that brought about contemporary performance measurement frameworks. These frameworks have been adopted by several construction industry especially in the UK, US, Chile and Brazil. However, most organisations within the Nigerian Construction industry mostly present their financial reports (which are mainly financial measures) to portray their performance and there are no available research that presents elaborate information on the industry‟s performance measurement practice.The Nigerian Construction Industry is faced with several problems bordering on poor performance.The study appraised the performance measurement practice of construction firms in Nigeria. A survey questionnaire was conducted on a randomly selected 50 small and medium sized construction firms in Abuja, Nigeria. Data were analysed using the descriptive statistics method including tabulation, percentages and charts. The results of the study revealed that most construction firms are interested in how they perform and do measure their performance. The study also shows that most of the construction firms still rely on financial measures (which has been highly criticised).Findings from the study also indicate a low awareness/implementation of performance measurement and performance measurement concepts. Findings also revealed that the most adopted performance measurement framework is the Balanced Scorecard.

Project Overview