Performance measurement of complex project: framework and means supporting management of project-based organizations

Abstract

Performance management and measurement enable to improve strategy implementation and increase organizational competitiveness. The literature review and desk research confirm that the design of a performance system is an issue because of the redefinition of project environment conditions and complexity of 4P. The system should be continuously developed during exploitation. Main objectives of the paper are to propose a framework of project performance measurement and a set of measures that could be applied in project-based organizations. The assessment proposal is the result of a literature review and qualitative empirical studies, interviews, and participatory observations. The framework considers performance assessment of the project and its context, including benefits occurring outside the project – on the program, project portfolio, and project-based organization levels – but being the result of project execution. The framework incorporates in project performance assessment the simultaneous and supplementary utilization of quantitative and qualitative measures, financial and non-financial measures that describe various fields of evaluation: finance, production, procurement, product quality, social, marketing of a product, legal, natural environment, client, and other stakeholders’ satisfaction.