Optimized Growth Curve for Estimating Performance Measurement Baseline Depended on Domestic Construction Facility Type

Abstract

This study describes an optimized growth curve for quantitatively estimating performance measurement baseline according to domestic construction facility types. The proposed curves is derived using the progress information of the 19 listed construction companies through the electronic disclosure system provided by the Financial Supervisory. The procedures of this study consisted of the following steps; (1) performing a preliminary review on the outline of a data collection, classification of construction facilities, and growth curve and regression used to derive the proposed curves; (2) presenting data collection, refining and preprocessing procedures; (3) deriving and verifying of the optimized model for domestic construction facility types; and (4) analyzing and discussing the results of considering the inherent characteristics of each facility type. Overall, the proposed curves were statistically significant, and found to be able to explain about 77% or more of the actual progress. The results of this study is expected to be used as an alternative to estimate the performance measurement baseline objectively in the context of domestic construction industry which is difficult to gather reliable data on various indicators to set baseline and calculate the standard progress by trial and error method.