Measuring performance of the Malaysian construction industry

A systematic measurement framework for the Malaysian construction industry is essential to enable the industry to monitor its progress towards achieving the goals set out in the Construction Industry Master Plan 2006-15. The objectives were to develop a comprehensive set of performance measures for the construction industry, to compute these measures for the 2006 base year and to benchmark the available data. The Balanced Scorecard approach was used to examine the links between the critical success factors and strategic thrusts defined in the master plan to ensure that these provide a balanced view of the industry's competitive standing. The resulting strategy map revealed that the eight critical success factors and seven strategic thrusts of the master plan generally cover all four Balanced Scorecard perspectives with a strong emphasis on learning and growth. Thirty-four performance measures were adapted from other initiatives, modified to suit local practices, or were created specifically to measure the outcomes of the strategic thrusts. Performance measures were computed for the 2006 base year. A comparative analysis of the available data was conducted to determine tentative targets for these measures.