Investigating the construction industry from key performance measurements

Kunhee Choi, Hyun Woo Lee, Junseo Bae, Kyeong Rok Ryu

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

The construction industry is an integral part of any nation’s economy, whether measured by dollar volume or workforce size. In spite of its strong influence, there has been very little specifically aimed at evaluating the current industry
performance. This research investigates the macroeconomic performance of the construction industry by accounting for crucial performance affecting factors such as labor productivity and gross margin. A clustering analysis, followed by a series of statistical analyses, yielded a notable finding that labor productivity is the most important factor that affects industry’s profitability. The results of the analysis also revealed that the states with the strongest labor productivity show the highest level of profitability in terms of gross margin. This study should be of value to decision-makers when plotting a roadmap for future growth and rendering a strategic business decision.
Original languageEnglish
Title of host publicationProceedings of the 6th international conference on construction, engineering and project management
EditorsBonsang Koo, Youngsoo Jung, Leen-Seok Kang
PublisherKorea Institute of Construction Engineering and Management
Pages150-153
Number of pages4
ISBN (Print)9788995457269
Publication statusPublished - 31 Oct 2015
Externally publishedYes
EventThe 6th International Conference on Construction Engineering and Project Management - Busan, Korea, Republic of
Duration: 11 Oct 201514 Oct 2015

Conference

ConferenceThe 6th International Conference on Construction Engineering and Project Management
Abbreviated titleICCEPM-2015
CountryKorea, Republic of
CityBusan
Period11/10/1514/10/15

Fingerprint

Construction industry
Performance measurement
Labour productivity
Margin
Factors
Profitability
Decision maker
Roadmap
Clustering analysis
Workforce
Industry performance
Macroeconomic performance
Integral

Keywords

  • labor productivity
  • profitability
  • cluster analysis
  • census

Cite this

Choi, K., Lee, H. W., Bae, J., & Ryu, K. R. (2015). Investigating the construction industry from key performance measurements. In B. Koo, Y. Jung, & L-S. Kang (Eds.), Proceedings of the 6th international conference on construction, engineering and project management (pp. 150-153). Korea Institute of Construction Engineering and Management.
Choi, Kunhee ; Lee, Hyun Woo ; Bae, Junseo ; Ryu, Kyeong Rok. / Investigating the construction industry from key performance measurements. Proceedings of the 6th international conference on construction, engineering and project management. editor / Bonsang Koo ; Youngsoo Jung ; Leen-Seok Kang. Korea Institute of Construction Engineering and Management, 2015. pp. 150-153
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Choi, K, Lee, HW, Bae, J & Ryu, KR 2015, Investigating the construction industry from key performance measurements. in B Koo, Y Jung & L-S Kang (eds), Proceedings of the 6th international conference on construction, engineering and project management. Korea Institute of Construction Engineering and Management, pp. 150-153, The 6th International Conference on Construction Engineering and Project Management , Busan, Korea, Republic of, 11/10/15.

Investigating the construction industry from key performance measurements. / Choi, Kunhee; Lee, Hyun Woo; Bae, Junseo; Ryu, Kyeong Rok.

Proceedings of the 6th international conference on construction, engineering and project management. ed. / Bonsang Koo; Youngsoo Jung; Leen-Seok Kang. Korea Institute of Construction Engineering and Management, 2015. p. 150-153.

Research output: Chapter in Book/Report/Conference proceedingConference contribution

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AB - The construction industry is an integral part of any nation’s economy, whether measured by dollar volume or workforce size. In spite of its strong influence, there has been very little specifically aimed at evaluating the current industry performance. This research investigates the macroeconomic performance of the construction industry by accounting for crucial performance affecting factors such as labor productivity and gross margin. A clustering analysis, followed by a series of statistical analyses, yielded a notable finding that labor productivity is the most important factor that affects industry’s profitability. The results of the analysis also revealed that the states with the strongest labor productivity show the highest level of profitability in terms of gross margin. This study should be of value to decision-makers when plotting a roadmap for future growth and rendering a strategic business decision.

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Choi K, Lee HW, Bae J, Ryu KR. Investigating the construction industry from key performance measurements. In Koo B, Jung Y, Kang L-S, editors, Proceedings of the 6th international conference on construction, engineering and project management. Korea Institute of Construction Engineering and Management. 2015. p. 150-153