The competitive dynamics in the construction sectors demand value maximization in projects, whereby the clients expect contractors to deliver value through efficiency and effectiveness, along with flexibility in project execution and use. Thus, the client benchmarks the contractor’s performance on value-driving factors, which act as critical success factors (CSFs) for a project’s value proposition. This paper aims to explore, model and rank CSFs of contractor selection within the construction sector to create a synergy between client objectives and contractor capabilities.
The CSFs were identified using a fuzzy Delphi study. Additionally, interpretive structural modeling and Matrice d’Impacts Croisés Multiplication Appliquée à un Classement analysis were carried out to explore and model the interrelationships among the CSFs. An interpretive ranking process was also applied to rank these CSFs.
The study has identified eight CSFs that help understand customer/clients’ requirements and translate them to maximize the overall value of their projects. The findings suggest that management capability is the most influential factor, while project duration, value engineering and financial soundness act as critical linkages among all the eight CFSs identified.
The study can help boost the contribution of the construction sector in economic growth stories of many developing countries. The improved value from the project can help in building higher quality infrastructure that benefits the community by improving the quality of life. This also encourages inclusive relationships among stakeholders and provides a fair chance to all in contributing the growth.
The results would help clients and regulators plan and control deviations in the contracting process more effectively by clearly understanding the inter-relationship between the value-creating CSFs.
