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Identification and modeling of critical success factors of portfolio management in construction sector

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2019
Hızal, A. Sercenk
Project Portfolio Management (PPM) is a good theoretical fit for a multi-dimensional industry like construction, however practical implications are limited. The aim of this thesis is to deeply analyze and investigate the determinant factors on the success of portfolio management in the construction industry. Since few studies have addressed them, both PPM in the construction sector and related success factors could be regarded as newly arising subjects for the literature. Consequently, the main contribution of this study is to fill the existing gap in the literature. Within this content, project and portfolio data of 22 portfolios consisting of construction projects were compiled from construction industry professionals through a survey. The professionals have been asked to evaluate a construction portfolio in which they took part in their professional lives according to 36 factors specified. In addition, three in-depth interviews were performed with professionals and three case studies were conducted accordingly. The compiled data is used to identify the critical success factors of construction portfolio management through statistical significance analysis. The critical success factors are used to develop a model of construction portfolio success. The novel model enables prediction of construction portfolio success by quantifying the impact of the critical factors on the portfolio success. One of the most remarkable findings of this study is that determinant success factors of PPM are differentiated from the projects’ success factors, which constitute the portfolios. Furthermore, portfolio related factors and human resources play a prominent role in the success of PPM in the construction sector.