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Development of a benchmarking framework for pharmaceutical capital projects

Author

Listed:
  • Bon-Gang Hwang
  • Stephen Thomas
  • Deborah Degezelle
  • Carlos Caldas

Abstract

Benchmarking is a proven technique for improving project performance and, as such, is a critical component of any mature project delivery system. Competitive benchmarking requires industry-specific metrics in absolute terms since processes vary by industry, and any metrics used within a single industry must be attuned to its particular processes. A framework is developed for evaluating pharmaceutical capital facility projects using metrics specific to the characteristics of these unique projects. Establishment of the framework made possible the development of a set of industry-specific metrics and a flexible data collection and reporting system for measuring project performance. Preliminary findings from an initial sample of 40 pharmaceutical projects confirm that meaningful industry-specific metrics can be produced for pharmaceutical capital facilities benchmarking. Developing such a framework enables the industry to measure project performance more accurately, get meaningful project performance comparisons, and ultimately establish credible norms for project performance.

Suggested Citation

  • Bon-Gang Hwang & Stephen Thomas & Deborah Degezelle & Carlos Caldas, 2008. "Development of a benchmarking framework for pharmaceutical capital projects," Construction Management and Economics, Taylor & Francis Journals, vol. 26(2), pages 177-195.
    • Handle: RePEc:taf:conmgt:v:26:y:2008:i:2:p:177-195
    DOI: 10.1080/01446190701802398
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    Cited by:

    1. Sungmin Yun & Wooyong Jung, 2017. "Benchmarking Sustainability Practices Use throughout Industrial Construction Project Delivery," Sustainability, MDPI, vol. 9(6), pages 1-20, June.

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