Critical Success Factors for the Construction Industry

Abstract

The traditional approach to success in the construction industry, both in academia and in industry, places great emphasis on the ability to plan and execute projects. In the past, companies completing projects in a timely manner within an established budget and meeting required quality considerations have been considered successful companies. Minimizing an emphasis on management practices and organizational stability, companies with a track record of successful project completion have been considered the construction industries' top-performers. In contrast, other industries emphasize management practices at a corporate level as an essential element of success. However, the future environment of the typical construction company will be much different due to technological and economic advancements. Therefore, a shift in emphasis from project success to corporate success should be examined for construction organizations to compete in an ever-changing marketplace. This paper advocates the adoption of a critical success factor methodology to enhance construction organization success and identify elements that are essential for organizations to achieve this success.

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