Developing a list of key performance indictors for benchmarking the success of construction megaprojects

Abstract

An increasing number of construction megaprojects have been invested in and built worldwide over the past decades, yet effective indicators for assessing construction megaproject success (CMS) are not validated, which leads to an ineffective assessment of megaprojects. Therefore, the current study attempts to identify a series of key performance indicators (KPIs) to assess the success of construction megaprojects. By conducting a questionnaire survey, research data were collected, which contained 129 valid replies from three groups of respondents from the Chinese construction industries: owners, contractors, and designers. IBM SPSS version 25 software was employed to analyze five underlying dimensions for CMS: (1) project efficiency, (2) key stakeholders' satisfaction, (3) organizational strategic goals, (4) innovation and development of the construction industry, and (5) comprehensive impact on society. Afterward, the fuzzy set theory was utilized to evaluate the KPIs' effectiveness. The results of this research can contribute to the body of knowledge in the field of megaproject management and serve as a theoretical foundation for the enhanced performance assessment of construction megaprojects and related management success.