Friday, June 12, 2015

Term of the Week - Project Quarterback Rating (PQR)

From an abstract in the ASCE Journal of Construction Engineering and Management:

"This paper presents the definition and the mathematical formulation of a unique performance metric called the project quarterback rating (PQR). The PQR gives a specific score for each construction project based on a set of key variables affecting project performance and outcome. The importance of the PQR is found in its ability to quantitatively assess overall performance from the contractor’s perspective, taking into account key performance areas, which include customer satisfaction, schedule, cost, profit, and communication. A practical application comparing the performance of several recently completed projects is also presented in this paper to illustrate the new model. This application shows one of many possibilities for how PQR can be used to solve industry problems and to fill an existing gap in the literature. This research offers a contribution to the construction engineering and management literature and to the architecture/engineering/construction (AEC) industry. It is the creation of a unified project performance metric for a practical comparison of overall performance for any construction project."

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