In construction industry, project performance should be evaluated in terms of project value objectives, i.e., cost, time, quality, safety, and environment. However, there have been few, if any, systematic approaches in assessing comprehensive performance level which encompasses the whole spectrum of project value objectives. It is non trivial to establish the standardized performance metric system due to the project individualities. This study provides a new approach in assessing the wide variety of project performance types by collecting the real industry project data. In addition, the proposed system has been validated through industry survey on project practitioners. It is concluded that the developed quantitative project performance measurement system would be effectively useful in indicating the level of current status of a particular project and furthermore, to provide a meaningful strategy for the future project in a more sustainable way.