Economic performance indicators for assessing the sustainability of construction projects: stakeholders’ perspectives

Purpose Economic sustainability has been an underexplored aspect of sustainability. Identifying how the construction industry assesses its economic performance for sustainability is crucial as it plays a major role in the development of a country. This study examined the perspectives of various stakeholders regarding the key economic performance indicators for assessing the economic sustainability of construction projects. Design/methodology/approach The study adopted an explanatory sequential mixed design approach by first conducting a quantitative survey and proceeding to validate the findings by the qualitative approach. 167 responses were gathered from the survey of key construction stakeholders such as contractors, clients, academics and professionals working in government. The quantitative data were analyzed using both descriptive and inferential statistics whilst the qualitative data (obtained from six key stakeholders) were analyzed thematically and used to augment the quantitative findings. Findings All nine economic sustainability indicators presented to respondents were perceived and ranked as key indicators of economic performance of construction projects. However, value engineering considerations, project cost performance and profitability were the three highly ranked indicators. Additionally, the study found that within the various stakeholder groups, there were significant differences in the importance attributed to the indicators. Originality/value This study focuses on economic sustainability indicators within the scope of a developing country. It is one of the few studies on economic sustainability that seeks to identify the key indicators for assessing economic sustainability performance of construction projects.