Key Performance Indicators for Value Management in Saudi Construction Industry

ABSTRACT Highly competition in the construction industry pays the construction developers to produce valuable projects with the lowest cost. Value management depends in the value based assessment of the project. The project value is directly proportional to the functionality achieved in the project, and inversely proportional to the cost of the project. Existing studies for seeking the key performance indicators (KPIs) for value management (VM) in construction industry are still limited. Furthermore, KPIs differs from country to other according to different market situations, policies and strategies, cultures, and competitive environments. To date, KPIs for VM in construction industry in Saudi Arabia have not been systematically investigated. Consequently, this study aims to identify the key indicators for evaluating the performance of value management practices in construction industry in Saudi Arabia. List of 55 initial performance criteria classified within three main groups have been identified through literature and interviews with VM experts. A survey for 119 of practitioner Engineers in Saudi construction industry has been conducted to achieve the study objectives.