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Measuring Construction Industry Performance - Essay Example
Constructors and businessmen are subject to variable weather conditions of natural disaster and should save and keep investment during the period of profit so that they do not become bankrupt during the period of downswings. John Stewart (2002) advances the notion that planning for new housing should take realistic account of the likely future geography of population, social and economic change…
Revenues from constructed buildings are not keeping pace with escalating cost of equipments, transportation and other economic factors. The prices of related construction items are quietly unrelated to the expenditure put in constructing, transporting materials, processing and selling.
Floods and droughts have made the established businessmen to become debtors though they have borrowed money and invested the same in equipment and land. There are delays in getting government funds, which are in adequate to meet these types of natural calamities. Though there are private insurance companies to cover insurance of these investments from weather-related catastrophes they are not that much helpful. The small players who solely depend on their investments are the losers of these natural calamities.
Like any other traders or businessmen, investors can ensure long term growth and stability through proper planning in changing market conditions during the periods of floods, drought and in price downsizing and also taking the help of key performance indicators (KPI) or benchmarking so that they may not depend on the assistance and support of government. Sharon McClements et al (2002) concluded that the Construction Best Practice Programme, have developed a benchmarking gateway known as KPI zone.
In construction fi ...