Research On Incentive Factors For Improving Project Performance In The Construction Industry Of Bangladesh

The construction industry is considered an essential part of the economic sector in today's economy,due to development in construction which is taking place in the world,especially in Bangladesh.It plays a significant role in the economic sector and its growth rate.Bangladesh has achieved a growth rate of 8.87%in FY2016/2017,and every year it has a significant achievement in this sector.Human resource is a valuable asset to the construction industry because this sector uses more workforces in its business activities compared to other sectors.Human resource practices are commonly concerned to gain value through improved skills,experience,autonomy,contribution,productivity,and lost consciousness.Incentive mechanism is the most critical factors for improving project performance of any construction company.This research focuses on evaluating the use of incentive framework for improving project performance in the construction industry in Bangladesh.Based on a critical review of the published literature,it is clear that there is no framework for adopting incentive factors in construction projects in the country.Most incentive factors adopted in construction projects which are usually focused on achieving a single performance metrics and financial incentives are mostly using their project only.However,this study advocated the need to incorporate the primary performance metrics such as expenses,competencies,career,safety,and security in incentive mechanism and build a framework for incentive factors besieged to develop performance.In this study,three incentive factors and fourteen sub-factors has been used to select the best factor between five alternatives such as profitability,productivity,increasing efficiency,employee's satisfaction,and organizational motivation using one of popular multi-criteria decision making(MCDM)process.This approach was the analytic hierarchy process(AHP),structured questionnaire,and questionnaire interview was applied through the research methodology step to reach best incentive types,measuring current situation of incentive types in the country,comparison of contractors and project personnel point of views.This study used both primary and secondary data sources to gather relevant facts and draw a clear picture of research.For analyzing collected data,Excel sheet prepared by applying the AHP method and this research is quantitative by nature.The main objectives of this research.are to evaluate the use of incentive factors,to select the appropriate incentive factors for improving project performance,identify the more used incentive factors in the construction project in the country by using Analytic Hierarchy Process(AHP).