Construction industry in its nature is complex considering its large number of participants or stakeholders including clients, contractors, consultants, shareholders, regulators, the public and others characterized based on the objectives, skills, cultures, values and professions. The goal of these participants is to successfully complete construction projects on schedule, within planned budget and required quality in the safest way. For these participants to achieve their goal, efficient project management is very important for tangible outcome of projects. Good performance can be assured by identifying and eliminating the factors that cause poor project outcomes. The objective of this study is to prepare a framework for improving project management performance by identifying, categorizing and prioritizing project key performance indicators associated with management practices for better project performance. A questionnaire survey was conducted in fourteen public building construction projects in Bahir Dar. Fifty six questionnaires were distributed to clients, consultants and contractors. 41 questionnaires (70.8%) were properly completed and returned with 12 questionnaires (85.7%) from client, 10 questionnaires (71.4%) from consultant and 19 questionnaires (67.8%) from contractor respondents. The collected data were identified, categorized, evaluated and ranked by their level of importance from owners, consultants and contractors’ perspectives who work in public building projects in Bahir Dar. According to the analysis, top ten causes of poor project performance are selected, top three important key performance indicators for each factor groups are identified and the level of management practices implementing in the projects agreed by all respondents are identified. By integrating the a conceptual framework is developed which can be used for improving management performance of construction projects in the future.