Development of a Systems Dynamics Framework for KPIs to Assist Project Managers' Decision Making Processes

Following a critical appraisal, redefinition and categorisation of Key Performance Indicators (KPIs) and their scope according to their use as an online management or monitoring tool (Roberts and Latorre 2009); this successive paper builds upon the first and focuses the research on the modelling of...

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Autores principales:	Latorre,V, Roberts,M, Riley,M. J
Lenguaje:	English
Publicado:	Escuela de Construcción Civil, Pontificia Universidad Católica de Chile 2010
Materias:	Project management decision making KPI CLD
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-915X2010000100005
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spelling	oai:scielo:S0718-915X20100001000052010-12-27Development of a Systems Dynamics Framework for KPIs to Assist Project Managers' Decision Making ProcessesLatorre,VRoberts,MRiley,M. J Project management decision making KPI CLD Following a critical appraisal, redefinition and categorisation of Key Performance Indicators (KPIs) and their scope according to their use as an online management or monitoring tool (Roberts and Latorre 2009); this successive paper builds upon the first and focuses the research on the modelling of the construction project in terms of KPI driven goals using Causal Loop Diagrams (CLDs). The paper presents the results of a research project developed in order to identify the obstacles which prevent achievement of the overall performance desired for the UK's Construction Industry. Particularly, how project managers' decisions impact such performance. The objective of this paper is to present the development of a KPI Hierarchy Model which will enable the contextualisation of the KPIs and allows for all relevant goals, elements and their interactions to be visualised easily. The integration, control and monitoring of this complex system and its objectives, feedback relations, delays and flow of information presents a need to understand and model how the components of these systems interact with each other. The categorisation and subsequent development of Project and Company Level KPI CLDs suggests that the KPIs fit into separate hierarchies enable the proposed KPI Hierarchy Model to be modified and refined according to the real challenges that projects pose to the decision making process of project managers. The model explained in this paper presents the need for increased efficiency in the Construction Industry and the role that Key Performance Indicators (KPIs) have in driving these required efficiencies.info:eu-repo/semantics/openAccessEscuela de Construcción Civil, Pontificia Universidad Católica de ChileRevista de la construcción v.9 n.1 20102010-08-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-915X2010000100005en10.4067/S0718-915X2010000100005
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	Project management decision making KPI CLD
spellingShingle	Project management decision making KPI CLD Latorre,V Roberts,M Riley,M. J Development of a Systems Dynamics Framework for KPIs to Assist Project Managers' Decision Making Processes
description	Following a critical appraisal, redefinition and categorisation of Key Performance Indicators (KPIs) and their scope according to their use as an online management or monitoring tool (Roberts and Latorre 2009); this successive paper builds upon the first and focuses the research on the modelling of the construction project in terms of KPI driven goals using Causal Loop Diagrams (CLDs). The paper presents the results of a research project developed in order to identify the obstacles which prevent achievement of the overall performance desired for the UK's Construction Industry. Particularly, how project managers' decisions impact such performance. The objective of this paper is to present the development of a KPI Hierarchy Model which will enable the contextualisation of the KPIs and allows for all relevant goals, elements and their interactions to be visualised easily. The integration, control and monitoring of this complex system and its objectives, feedback relations, delays and flow of information presents a need to understand and model how the components of these systems interact with each other. The categorisation and subsequent development of Project and Company Level KPI CLDs suggests that the KPIs fit into separate hierarchies enable the proposed KPI Hierarchy Model to be modified and refined according to the real challenges that projects pose to the decision making process of project managers. The model explained in this paper presents the need for increased efficiency in the Construction Industry and the role that Key Performance Indicators (KPIs) have in driving these required efficiencies.
author	Latorre,V Roberts,M Riley,M. J
author_facet	Latorre,V Roberts,M Riley,M. J
author_sort	Latorre,V
title	Development of a Systems Dynamics Framework for KPIs to Assist Project Managers' Decision Making Processes
title_short	Development of a Systems Dynamics Framework for KPIs to Assist Project Managers' Decision Making Processes
title_full	Development of a Systems Dynamics Framework for KPIs to Assist Project Managers' Decision Making Processes
title_fullStr	Development of a Systems Dynamics Framework for KPIs to Assist Project Managers' Decision Making Processes
title_full_unstemmed	Development of a Systems Dynamics Framework for KPIs to Assist Project Managers' Decision Making Processes
title_sort	development of a systems dynamics framework for kpis to assist project managers' decision making processes
publisher	Escuela de Construcción Civil, Pontificia Universidad Católica de Chile
publishDate	2010
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-915X2010000100005
work_keys_str_mv	AT latorrev developmentofasystemsdynamicsframeworkforkpistoassistprojectmanagersdecisionmakingprocesses AT robertsm developmentofasystemsdynamicsframeworkforkpistoassistprojectmanagersdecisionmakingprocesses AT rileymj developmentofasystemsdynamicsframeworkforkpistoassistprojectmanagersdecisionmakingprocesses
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Development of a Systems Dynamics Framework for KPIs to Assist Project Managers' Decision Making Processes

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