Project Management

Project Management Central

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Topics: Construction, Consulting, Earned Value Management
Productivity Benchmarking
Benchmarking is a systematic process of searching for the best practices, innovative ideas and highly effective operating procedures that lead to superior performance

Purpose of Benchmarking
Analyze the operations to identify the critical cost components and areas for improvement and reduction in the cycle time of activities
To get knowledge of the competition & industry leaders
To incorporate the best of the best – learn & emulate the best
To gain superiority over competitors

Types of Benchmarking:
Comparison among similar operations within one’s own organization

This is comparison to the best of the direct competitors

Comparison of the methods with the companies with similar processes in the same function outside one’s country

Comparison of work processes to others who have innovative, exemplar work processes

Contacting the best in class firms and asking them for knowledge sharing

A group of firms sharing knowledge about a particular activity

Benchmarking Roadmap :
Determine what to Benchmark
Determine Key Factors to be measured
Develop Data Collection Methodology
Collect Data
Identify Foremost Practices Within and Outside Companies
Identify Performance Gap and Reasons for it
Develop Action Plan
Integrate Plan into Business Practices

Performance Indicators
Benchmarking is essentially for continuous improvement of any organization
Parameter for benchmarking should be based on Key Performance Indicator (KPI)
There can be many KPI’s in the construction industry to measure the job performances be followed

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