Best Value Implementation Program For Contractors by Michele ...

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peer reviewed literature. Within this analysis we will review performance measurement of contractors and find out exactly why something is better than another and what are the dimensions of this success. <strong>For</strong> example, why is x better than y? It is necessary to understand the importance of the definition of performance within the construction industry: being on time, on budget, and delivering high client satisfaction. In order for a contractor and construction company to be truly successful it is crucial to differentiate ones organization from others through measure of performance. Through a unique understanding of key determinants of performance, companies and organizations can then modify or implement certain processes or practices; delete ineffective protocol, and thus use this acquired knowledge to make improvements and positively affect their overall organizational outcomes. Lastly, it is cumulatively necessary to understand the attributes of a best value contractor and the subsequent factors that make one successful. There are varying degrees of differentiation and things that contractors due to distinguish themselves from their competition, Thus, it is necessary to better understand these factors <strong>by</strong> reviewing the transitional components that contractors utilize to effectively migrate from practices that emphasize a price-based strategy to that of a best-value environment. 15
The development of a survey to support the effectiveness of the tools and the significance of the attributes are presented. A summary of this thesis includes: • Chapter 2 presents an extensive literature review of the best value environment, the attributes of a contractor that succeeds within that structure, and best practices that will assist a price-based vendor with transitioning to a best value vendor. • Chapter 3 establishes the best value organization measurement survey and includes verifying that the survey outcome correlates with vendor performance. • Chapter 4 details the development of the implementation tools organizations can utilize to assist them with transitioning in the best value environment. • Chapter 5 captures the establishment of a case study for the implementation tools and the outcome of the impact to an organization. • Chapter 6 presents the research results, lessons learned, benefits, future actions, and conclusion. 16
Page 1 and 2: Best Value Implementation Program F
Page 3 and 4: TABLE OF CONTENTS ii Page LIST OF T
Page 5 and 6: Risk Management as Industry Challen
Page 7 and 8: CHAPTER Page Implementation Tool Re
Page 9 and 10: LIST OF FIGURES Figure Page 1. Perf
Page 11 and 12: competition. Many attempted to cut
Page 13 and 14: Moreover, the traditional low-bid a
Page 15 and 16: Emphasis then is placed on contract
Page 17 and 18: 6. High turnover rates. 7. High ins
Page 19 and 20: projects faster, and reduce the cos
Page 21 and 22: has a low bid mentality within a be
Page 23: 3. Develop a measurement tool that
Page 27 and 28: construction provided insight into
Page 29 and 30: competition, particularly on the ba
Page 31 and 32: control. Managing and minimizing te
Page 33 and 34: Contractor must be the expert and o
Page 35 and 36: price in procurement, manages risk
Page 37 and 38: elationship: performance = f (abili
Page 39 and 40: Razek, 1997). Maloney, using his mo
Page 41 and 42: well as a tool for managers to esta
Page 43 and 44: Figure 5. Plan-Do-Check Check-Act A
Page 45 and 46: measures are also intended to demon
Page 47 and 48: Table 1 Strategic Plan Element and
Page 49 and 50: • What products or services are p
Page 51 and 52: Customer Satisfaction Focus The org
Page 53 and 54: enterprise. Poister & Streib (1999)
Page 55 and 56: focused on the organization's missi
Page 57 and 58: survey by management consultant KPM
Page 59 and 60: Good risk management involves the e
Page 61 and 62: 4. Unforeseen events 5. Inaccurate
Page 63 and 64: addition to positive customer respo
Page 65 and 66: it becomes obvious that continuous
Page 67 and 68: ago, one of the key factors in effe
Page 69 and 70: Another step to gaining efficiencie
Page 71 and 72: capacity to guide organization chan
Page 73 and 74: CHAPTER 3 - Attribute Measurement S
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have facilitated a change from low-
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weekly basis, so if there is a devi
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to a best value organization and, b
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team. It can also be concluded that
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implementation tools be consistentl
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step is to implement it within the
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unintended behavioral effect, imple
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attributes. Track changes in custom
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• Follow up with employees after
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Table 4 Example of a milestone sche
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RISK to schedule: Timely transition
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potential risk items are identified
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for the attributes identified durin
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saw this opportunity to participate
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measurements but also allows the or
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The result was less, more concise c
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tools. This quantifiable research d
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a. Defined by the CIS as high compe
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contractors must be prepared to und
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REFERENCES Abdel-Razek, R.H. (1997)
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Deming, W. E. (1982, 1986). Out of
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Kale, S. & Arditi, D. (2002). Compe
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Technology (IT) Infrastructure with
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APPENDIX A ATTRIBUTE MEASUREMENT SU
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16 Do you manage risks that you don
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CONTRACTOR SURVEY RESULTS 1 2 3 4 5
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% over budget CONTRACTOR PERFORMANC
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% over budget % over budget due to
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Contractor B continued % over % ove
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APPENDIX D HFS COMPANY’S SURVEY R
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APPENDIX E HFS COMPANY’S PERFORMA
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Project # HFS Company Performance I
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APPENDIX F HFS COMPANY’S PERFORMA
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• 2 points for obtaining a profes
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EXAMPLE TRAINING INF INFORMATION PI
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2. List of action items and/or info
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