Time, Cost and Quality (TCQ) has become the de facto of managing projects, including engineering projects and it is also used as performance assessment model. However, many researchers have stressed the limitations of using this model (TCQ). In this response, this study develops a conceptual model ‘4Es’ (Effective, Economic, Efficient, Ethics) for effective managing engineering projects and for performance assessment. A qualitative approach was adopted for this research. Multiple case studies were utilised and the method used was interviews, documentary evidence and observations. This was followed with an analysis, intellectual discussion and the development of the 4Es model as the essential tool for managing projects and for performance assessment. It is established that the aim of every client is to have ‘value for money’ (VfM). However, achieving VfM is not necessarily managing TCQ separately. It is concluded that, the 4Es model takes into consideration TCQ, Environmental impact and Resources by balancing these factors to generate optimal value. In addition, it is a performance assessment model.
|Number of pages||5|
|Journal||Key Engineering Materials Journal|
|Publication status||Published - 2014|