This paper evaluates the use of information technology IT and its impact on project and company performance in the construction industry. Using project level data from 139 projects and company level data from 74 companies, the current state of IT use in the construction industry was studied and statistical analyses were performed to assess the correlation between IT use and performance. Analyses are segregated by owner and contractor stakeholder groups and findings suggest that more IT use correlates with improved performance. Schedule performance has a strong positive association with increased IT use, whereas cost performance, although positively correlated, has a weaker relationship. These findings are in line with previous studies, adding to the research that IT has a positive impact on performance. Further comparison is made to show that IT use has increased over time among projects drawn from a similar sample population.