Construction portfolio management model for institutions

Kristen Hurtado, John Savicky, Kenneth Sullivan, Jake Smithwick, Dhaval Gajjar

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

Abstract

Owners and agencies that build or renovate projects have a need to know how their portfolio of construction projects is performing and how to optimize future projects. However, owners are challenged with spending the time to collect and analyze the data on their history of projects, while also managing the workload of their current projects. Without historical data, owners face the difficult task of understanding what areas need improvements and how to optimize performance. Institutions, such as universities and colleges, are uniquely challenged as their portfolio of projects consists of varying project sizes, complexities, and occupants. Further, many institutions are faced with these obstacles amid budget cuts and departmental re-organizations. A model for construction portfolio management for institutions is developed and currently being tested on three institutions in the USA at different levels of maturity. Through a series of audits, interviews, and data collection from both owners and contractors across a period of 4 years and 26 institutions, the researchers developed the model. The model is a three-stage approach, with a structure for identifying the current state of performance, a framework for the ongoing collection of data as new projects arise, and linking decision-making indicators to improve overall performance. The model, results, and lessons learned from the institutions are presented to serve as examples for institutions looking to understand and improve the performance of their construction portfolio. This research can also be extended to owners outside of institutions and serve as valuable insights to contractors looking to measure their performance.

Original languageEnglish (US)
Title of host publicationConstruction Research Congress 2018
Subtitle of host publicationSustainable Design and Construction and Education - Selected Papers from the Construction Research Congress 2018
PublisherAmerican Society of Civil Engineers (ASCE)
Pages168-177
Number of pages10
Volume2018-April
ISBN (Electronic)9780784481301
DOIs
StatePublished - Jan 1 2018
EventConstruction Research Congress 2018: Sustainable Design and Construction and Education, CRC 2018 - New Orleans, United States
Duration: Apr 2 2018Apr 4 2018

Other

OtherConstruction Research Congress 2018: Sustainable Design and Construction and Education, CRC 2018
CountryUnited States
CityNew Orleans
Period4/2/184/4/18

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ASJC Scopus subject areas

  • Civil and Structural Engineering
  • Building and Construction

Cite this

Hurtado, K., Savicky, J., Sullivan, K., Smithwick, J., & Gajjar, D. (2018). Construction portfolio management model for institutions. In Construction Research Congress 2018: Sustainable Design and Construction and Education - Selected Papers from the Construction Research Congress 2018 (Vol. 2018-April, pp. 168-177). American Society of Civil Engineers (ASCE). https://doi.org/10.1061/9780784481301.017