performance evaluation of project-based organizations … · relationship between different aspects...

*Corresponding author

E-mail address: [email protected]

Journal of Applied Science and Engineering Management (2013) 1-12

Volume 1, Number 3

Journal of Applied Science and Engineering Management

journal homepage: www.nvlscience.com/index.php/asem

Performance Evaluation of Project-Based Organizations with a Relational

Capital Approach Using Data Envelopment Analysis - A Case Study

Hadi Shirouyehzad1, Arash Shahin

2, Zahra Moeini Najafabadi

3,*

1Department of Industrial Engineering, Najafabad Branch, Islamic Azad University, Najafabad, Iran 2Department of Management, University of Isfahan, Isfahan, Iran 3Department of Industrial Engineering, Najafabad Branch, Islamic Azad University, Najafabad, Iran

A B S T R A C T

A R T I C L E I N F O

In today's competitive world, customers, society, and stakeholders

play an important role in the success of organizations, and

organizations that make the best use of their relational capital show a

better performance. Therefore, the current study aims to present a

method for evaluating the performance of project-based organizations

based on relational capital and introduce the effective parameters of

relational capital affecting organizational performance. In this

connection, the data envelopment analysis was used to establish the

relationship between different aspects of organizational performance

and the parameters of relational capital and identify effective

parameters. First, parameters for measuring relational capital were

identified. Then, the data envelopment analysis was carried out by

assigning parameters of relational capital as input variables of the

model and the three parameters of 1- project's implementation period

compared to the predicted period, 2- implementation costs compared

to the predicted costs, and 3- customer satisfaction compared to

customer's full satisfaction as its output variables. Results showed that

paying attention to market-related factors plays the most effective role

in contributing to improving the performance of project-based

organizations.

Article history :

Received:

April 28, 2013

Revised:

June 11, 2013

Accepted:

July 2, 2013

Keywords:

Intellectual Capital,

Relational Capital,

project-based

organization, Data

Envelopment Analysis,

Performance Evaluation

1. Introduction

In human societies, paying attention to proper relationships has always played an effective

role in achieving success in business and creating competitive advantage, placing relational

capital among the intellectual capital and invisible assets of the organization and as a factor

that contributes to creating value. According to Bontis, organizational capital includes

knowledge associated with all relations that the organization establishes with customers,

rivals, suppliers, commercial associations and/or the government [1]. On the other hand,

many organizations have begun outsourcing their activities and contracting them out to

project-based organizations as a specialized approach toward activities has become popular

today. So, the activities of many organizations are defined based on projects. A project-based

organization is an organization whose activities consist of projects, including production and

delivery of services to customers [2]. Hence, customers and markets play a key role in such

2 Performance Evaluation of Project-Based Organizations with a Relational Capital Approach

Using Data Envelopment Analysis - A Case Study

organizations, whose survival depends on winning the satisfaction of customers, suppliers,

and even legal entities and society. Thus, paying attention to relational capital in project-

based organizations could lead to creating competitive advantage and improving

performance, helping the organization to proceed toward its goals consequently.

To observe the effectiveness of paying attention to relational capital on the performance of

project-based organizations, the performance of these organizations should be evaluated in a

way that relational capital be considered as organizational input and performance-related

parameters could be taken as the organizational output. The date envelopment analysis

(DEA), which is based on the application of linear programming, determines the efficiency of

a series of units with the same multiple inputs and outputs. DEA measures the efficiency of

each decision-making unit by comparing it with the best decision-making unit in the group.

Based on this method, the unit with the highest efficiency becomes the benchmark for the

other decision-making units [3].

In this research, the literature is reviewed, relational capital undergoes categorization, and

parameters are introduced to determine the value related to each category. These parameters

are measured in the organization through a researcher-constructed questionnaire. The DEA

will be employed to examine the performance of project-based organizations by considering

the components of relational capital as input and 1- project's implementation period compared

to the predicted period, 2- implementation costs compared to the predicted costs, and 3-

customer satisfaction compared to customer's full satisfaction as output. Then, a sensitivity

analysis will be carried out to introduce parameters that have the highest effect on the

performance of project-based organizations.

2. Literature Review

Many studies have been carried out on the role of relational capital in achieving

competitive advantage since the issue is of great importance. Chan and Wang have examined

and proposed a unified framework of cause-effect relationships among six aspects of

costumer capital. Evidence shows that the aspects of customer capital should be managed

and controlled in a typical business so as to contribute to improving the business in this way

[4]. Migheli has examined the relationship between relational capital and profitability and

credibility in a small company, concluding that relational capital contributes to credibility and

increases the chance to achieve positive profitability in some cases [5].

Wang tested a theoretical model to examine the effectiveness of relational capital on the

company's reputation as well as creation of competitive advantage. The results of an analysis

of data belonging to a number of Taiwanese companies have indicated that the company's

reputation has a positive impact on relational capital, affecting competitive advantage

subsequently [6].

Kohtamäki et al. Identified factors that affect the relationship between research and

development, suppliers and customer relations in industrial companies. They determined

how relational capital is related to research and development and suppliers, and

3 Shirouyehzad et al.

recommended that attention be paid to service networks, cooperation in research and

development, industrial marketing and intra-organizational networks [7].

Blonska et al. Examined the relationship between relational capital and development of

suppliers. They found out that investment in supplier development does not directly affect the

producers' interests and that relational capital merely serves as a bridge in this connection. In

other words, profits gained through development could not be increased without relational

capital [8].

3. Intellectual Capital

In the third millennium, management found itself in a knowledge-based economy in which

none of cash, building and equipment could be an element of distinction, the role of

individuals in gaining a constant competitive advantage is undeniable, and survival depends

on investment in the intellectual capital of the organization [9]. In the era of knowledge-based

economy, intellectual capital substituted physical assets gradually, orienting changes toward

creating value for modern companies. To achieve competitive advantage in the market,

modern companies should not merely rely on products, distribution channels, the market, and

innovation services. In this era, investment means boosting capabilities in developing the

market and products, and especially paying attention to intellectual capital management [10].

Intellectual capital is achieved through the combination, interaction and integration of

three types of capital, namely human capital, structural capital and relational capital. It means

that while knowledge is produced and maintained by individuals with the organization

(human capital), this knowledge could be promoted through interaction between them

(structural capital) and be delivered outside the organization as well, promoting the

organization’s relations with the outside world (relational capital) [11].

3.1. Relational capital

The term “customer capital” was raised by Hubert Saint-Onge for the first time [12].

Stewart interpreted customer capital as market data used to absorb and preserve customers.

The concept of customer capital has been expanded to include relational capital in its new

definitions. Relational capital includes knowledge associated with all relations that the

organization has established with customers, rivals, suppliers, commercial organizations

and/or the government [1]. It defines the organization's formal and informal relationships

with outside stakeholders and their understandings about the organization, and determines the

exchange of information between the organization and the stakeholders [11]. Table 1 shows

various definitions offered by researchers for human capital.

Given the definitions offered for human capital and existing models used for measuring

intellectual capital, different types of categorization could be identified in relational capital.



Table 1. Relational Capital Definitions [13]

Researchers Definition

Bontis et al. [12]

Customer capital is “the knowledge embedded in the marketing channels and

customer relationships that an organization develops through the course of conducting

business”.

Engstrom et al. [14] Customer capital is “the value that contributes to current and future revenues,

resulting from an organization’s relationship with its customers”.

Martinez-Torres [15]

Relational capital is "the sum of all assets that arrange and manage the firm’s

relations with the environment. The relational capital contains the relations with

customers, suppliers, shareholders, the rival, community, the official institutions, and

society".

Rudez & Mihalic,

[16]

Customer capital "is constituted by customer satisfaction and loyalty, image and

brand, and direct distribution channels. Customer capital can be broadened to

relationship capital, which also includes relationships with other subjects such as

business partners, tourism promotion organizations, government, local community,

competitors, creditors, special interest groups, the media and the public".

Chen [17]

Relational capital is "the summation of relationships, interactions, and intimacy of an

organization with internal and external stakeholders; that is to say, relational capital

which embraces all the relations the firm has established with its stakeholder groups

such as customers, suppliers, the community, the government, etc".

Table 2 shows a sample of categorization used in measurement models to identify the

components of relational capital.

Table 2. Sample of categorization used in measurement models of relational capital

Model Researchers Category

intellectual capital

Monitor Stewart [18] Market to attract and retain customers

Intellectual Capital

Index Ross et al. [19]

Relationships with internal and external

stakeholders

Industrial and

Commercial

Development

Association in

Denmark

Industrial and Commercial

Development Association in

Denmark [20]

Distribution of turnover by market, customer and

product, marketing, customer per employee,

customer satisfaction, repeat business

Ross Ross et al. [19] Customer relationship; suppliers relationship,

partners relationship, investors relationship

Bontis Bontis [1] Repeat contracts, increase sales, customers

De Pablos De Pablos [21]

Arbabrjvan properties, clients and stakeholders,

dissemination and networking, diversity,

collaboration and connection

University in Australia Carson [22] Customer capital, competitors

4. Data envelopment analysis

The data envelopment analysis (DEA) was introduced by Charnes, Cooper and Rhodes in

1978. DEA is a non-parameter linear programming method that could be utilized to

determine the productivity of a series of companies in comparison with the best performance

range [23]. The main two types of DEA are called “input-based model” and “output-based


model”. The input-based model focuses on reducing costs while the output-based model

focuses on increasing production [3].

If constant return to scale in DEA (increase in input leads to increase in output

proportionally), the CCR model could be employed to evaluate efficiency. The mathematical

structure of this model is as follows [24]:

Multiple form of CCR is achieved in the form of equation 1:

∑

∑

∑ ∑

(1)

The envelopment form of CCR in the corrected input-based entity: in DEA, the dual

multiplier form always leads to an envelopment form. If the dual multiplier form is written as

CCR, the envelopment form of CCR is achieved in the form of equation 2 [24]:

(∑

∑

)

∑

∑

,

, λj ≥ 0

(2)

5. Research Methodology

This study aims to evaluate the performance of project-based organizations in relation to

the relational capital approach and introduce those parameters of relational capital that affect

the performance of such organizations. It is carried out in four main stages. Figure 1 shows

the sequence of these stages.

Stage one: identifying and categorizing the parameters of relational capital

This stage deals with identifying parameters used in the process of evaluating relational

capital. Given the available sources and studies carried out on relational capital, the

evaluation parameters have been selected and categorized to have the greatest emphasis on

existing resources and provide a comprehensive perspective on the relational capital of

project-based organizations, as mentioned by experts. The parameters were later categorized



into four categories of customer-related parameters, market-related parameters, stakeholder-

related parameters and supplier-related parameters based on their nature. Table 3 shows the

evaluation parameters of relational capital and their categorization.

Stage one Stage two Stage three Stage four

Figure 1. The sequence of stages

Stage two: collecting data and forming the data envelopment analysis model

This stage leads to the formation of the data envelopment analysis model. Each DEA

model includes inputs, outputs and decision-making units. In this study, the components of

relational capital have been considered as the model’s input. Also, the three factors of 1-

project's implementation period compared to the predicted period, 2- implementation costs

compared to the predicted costs, and 3- customer satisfaction compared to customer's full

satisfaction have been taken as the model’s output since the research has been carried out in

project-based organizations. To determine decision-making processes, project-based

organizations with similar processes have been used. Figure 2 shows the DEA model.

To form the model, the value belonging to each input was calculated through a researcher-

constructed questionnaire filled out by the top managers of each organization. The value of

each output was also calculated based on documents presented by each organization. First,

the mean deviation from the predicted period, the mean deviation from the predicted costs

and the mean deviation from customer's full satisfaction were determined using formulas 3.4

and 5. Then, the level of the compatibility of the value with the predicted value was

determined based on the mean deviation.

Figure 2. DEA model

Start

Sensitivity analysis

of the components

of relational capital

and identification of

parameters affecting performance

Evaluating the

performance of

selected project-based

organizations using DEA

Collecting data

and forming

the data

envelopment analysis model

Identifying and

categorizing

the parameters

of relational

capital

End

Customer

Market

Beneficiaries

Suppliers

Project-based

organizations

Predicted time and run-time compliance

Predicted cost and run-cost compliance

customer's 100% satisfaction compliance


Table 3. Evaluation parameters of relational capital and their categorization

Category Resource Parameters Resource

Customer [11], [13], [25],

[26], [27]

Customer service capability [13]

customer’s needs Identifying [13], [26]

customer relationship [13], [25], [28]

Investment in customer

satisfaction [13], [26], [28]

Customer retention rate [11], [13], [27], [29]

Customer satisfaction [13], [13], [26], [27], [28], [29]

Customeres in proportion to the

number of employees [26], [29]

Market [11], [13], [26],

[27], [30]

Percent market share in the

industry [11], [13], [26], [29]

Employees' knowledge of target

markets and customers [28]

Market share of the new company [13], [26]

Improve the company’ Market

share [28], [30]

Media Advertising [13]

Distribution channels [11], [13], [26], [27]

Business collaborations [13], [30]

Beneficiaries

[13], [25]

Shareholders [13], [25]

Knowledge/acquaintance with

community [13], [30], [31], [32]

Knowledge/acquaintance with

government and Official

institutions

[13], [30], [31], [32]

Environmental activities and

reduce waste [13]

Suppliers [13], [25] Links with suppliers [11], [13], [25]

Collaborations with suppliers [13]

: Mean deviation from the predicted period of time allocated to projects carried out by the

organization last year.

∑

| |

{ }

(3)

: Mean deviation from the predicted costs of projects carried out by the organization last

year.

∑

| |

{ }

(4)

: Mean deviation from customer's 100% satisfaction from projects carried out by the

organization last year.

∑

(5)



Formula 6 was used to evaluate the consistency of the period of time predicted for

implementing the project with its actual implementation period, formula 7 was used to assess

the consistency of predicted costs with the actual costs of the project, and formula 8 was used

to measure the consistency of actual customer satisfaction with customer's full satisfaction.

(6)

(7)

(8)

So, the values of T, C and Q make up the output variables of the DEA model. The higher

the values of the output variable are the better will be the organization's performance in

executing its projects. Predictions made about the project will be closer to the actual

conditions surrounding the execution of the project as a result.

Stage three: evaluating the performance of selected project-based organizations using

DEA

In this stage, the performance of project-based organizations is examined using the DEA

model formed on stage two. The model number of each input is measured with

questionnaires. Because of its use of the intellectual capital and the organizational strategies

and approaches to the organization measure the scale by the number of senior managers,

middle managers and supervisors in any organization is completed. The number of outputs

will be calculated according to the documentation provided by the organization. Then select

the appropriate model for data envelopment analysis and solution of the model is

characterized by a number of the organization's performance.

Stage four: sensitivity analysis of the components of relational capital and identification

of parameters affecting performance

This stage examines the effectiveness of each component of relational capital on the

efficiency of organizations and identifies factors affecting their performance. In this

connection, the DEA model is conducted for another four times, with one of the input

variables being omitted each time. If a higher difference is observed between the achieved

efficiency and the general efficiency, the omitted factor will have a higher impact on the

organization's efficiency.

6. Case study and findings

Since development infrastructures and civil planning play a significant role in any

country's industry and executive planning process and since the proper execution of projects

contributes to development and progress, this study covered 7 project-based organizations

engaged in consulting, monitoring and executing development and urban projects. The

following three steps were taken to implement the proposed model:

Step one: Designed the Questionnaire to Measure Relational Capital

First relational capital parameters of the proposed method were evaluated on a project-

based organizations will localize. The questionnaire was designed based on relational capital


indicators. The reliability of the questionnaire was verified using the viewpoints of experts

specialized in relational capital who worked in industrial and academic centers. Also, its

validity was determined using Cronbach's alpha, with the coefficient standing at 0.961. The

figure is acceptable since it is higher than 0.7, meaning that the validity of the questionnaire

is verified.

Step two: Measuring Input and Output Variables

In this stage data envelopment analysis model was set up according to Figure 2. The inputs

to the model are the questionnaires that were designed in the step one. Data collected through

the questionnaire show the level of the application of each component of relational capital by

each organization covered by this study. The output variables were also measured based on

documents presented by each organization using the method described above. Table 4 shows

the values of input and output variables for each organization.

Table 4. Values of input and output variables for each organization

Number of

organization

Input variables Output variables

Customer Market Beneficiaries Suppliers T C Q

1 3.19 3.83 2.67 2.2 0.77 0.49 0.84

2 3.85 3.1 2.72 3.35 0.52 0.83 0.82

3 3.06 2.91 3.14 2.86 0.96 0.87 0.91

4 3.5 3.21 3.31 3.62 0.97 0.9 0.98

5 2.36 3 1.5 3.87 0.61 0.8 0.96

6 3.59 3.43 3.58 4.17 0.81 0.87 0.98

7 3.78 3 2.87 2.25 0.77 0.96 0.92

Step three: Evaluating the Performance of Project-Based Organizations Using the DEA

Model

The model used in this study is an input-based one that assumes the output as a fixed scale

in CCR state. When using this method, efficiency is measured by assuming that fixing the

input and output are trying to reduce. In this way we can impact the performance of relational

capital components identified project-driven organizations. The efficiency of the

organizations is shown in the table 5. In CCR input oriented approach, the efficiency

requirement is that the efficiency numbers are 1. The results show that the efficiency of

organizations 1, 3, 5 and 7 is equal to 1. These results indicate that the assumption of constant

input level, these organizations have achieved the best performance.

Step four: Sensitivity Analysis of the Components of Relational Capital

This step deals with the sensitivity analysis of the components of relational capital. In this

connection, the effectiveness of each component of the efficiency of the organizations is

examined. To carry out the sensitivity analysis, the CCR model was carried out for another

four times, with one input (components of relational capital) being omitted each time. If a

higher difference is observed between the value of the objective function and the

organization's efficiency, the omitted variable will have a higher effectiveness on the

organization's efficiency. Results gained through the four-time execution of the model have

been presented in table 5.

10 Performance Evaluation of Project-Based Organizations with a Relational Capital

Approach Using Data Envelopment Analysis - A Case Study

Table 5. Organization's efficiency and results gained through the four-time execution of the model

Number of

organization Efficiency

Objective

function value

by removing

Customer

Objective

function value by

removing

Market

Objective

function value by

removing

Beneficiaries

Objective

function value by

removing

Suppliers

1 1 1 1 1 0.84538

2 0.85952 0.85959 0.77841 0.85984 0.85992

3 1 1 1 1 1

4 0.97057 0.97071 0.92450 0.97064 0.97075

5 1 1 1 1 1

6 0.90066 0.90092 0.81893 0.90118 0.90078

7 1 1 1 1 1

Finally, the total difference in the organization's performance obtained as a result of the

omission of each variable is measured and any variable whose omission has led to a higher

decrease in the organization's efficiency will have a higher impact on the efficiency of the

units. The final result has been presented in Table 6.

Table 6. The final result

Rank difference in the organization's performance obtained as a result of the

omission of each variable Indicator

4 0.00047 Customer

1 0.20891 Market

3 0.00091 Beneficiaries

2 0.15532 Suppliers

Market-related parameters have the highest effect on the efficiency of organizations as

observed in this Table.

7. Conclusion

Expansion of a business is not possible only through boosting products and services and

paying attention to organizational structure. It requires absorbing more customers and

creating new markets as well. Paying attention to stakeholders, including investors, suppliers,

society, legal entities, etc. could also contribute to development and progress in every

organization. These elements are known as relational capital. The need for paying attention

to relational capital in project-based organizations are due to their great dependence on

customers, the market, stakeholders and suppliers.

Previous studies conducted in relational capital have focused on the positive impact of this

type of capital on the performance of companies operating in different fields. As a result,

shortage of studies on the components of relational capital and identification of the ones with

the highest impact on the performance of companies is observed. Therefore, the current study

has examined the effect of relational capital on the performance of project-based

organizations using the data envelopment analysis (DEA) model in order to determine the


relationship between the components of relational capital and factors related to organizational

performance, identifying components affecting the organization's performance subsequent.

Results showed that, among the components of relational capital, paying attention to the

market can have the highest impact on the performance of the organization. So, project-based

organizations are recommended to pay more attention to factors that will boost their situation

in the market in order to improve their performance and prepare programs to expand their

business. Being present in the media, paying attention to distribution channels, business

cooperation, familiarizing staff with target markets and creating new markets could be useful

in this regard.

Applying the proposed method to more organizations operating in different fields could

help talk about this issue with more confidence.

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