Extended balanced scorecard approach for evaluating the performance of Iraqi construction companies

Abstract

Construction companies always aim for the successful result of construction projects. Time and project cost are areas of performance recognized by most researchers. Yet, other non-financial performance perspectives are equally important in managing modern projects. This research aims to determine the applicable performance perspectives for Iraqi construction companies and the most fitting key performance indicators for measuring the company's success. A comprehensive examination of the previous literature review was implemented to conclude a list of performance perspectives that affect project performance. A survey instrument was designed to gather the data and opinions from industry professionals in the Iraqi construction industry. The collected data was analyzed and ranked using the Relative Important Index approach. The results showed six performance perspectives for project performance, namely, financial, customer, quality, project, internal, and environmental, and safety perspectives; twenty-eight different key performance inductors and metrics were chosen. The findings of this paper can serve as guidelines in designing a model for evaluating the performance of Iraqi construction companies, therefore, improving project performance.