This research article aims to introduce a novel project management application, denominated EcoMCS, based on Management Control Systems (MCS) assessment to improve the performance of residential construction firms in Colombia. The study is grounded in the conceptualization of project management and MCS and builds upon an interview study conducted with managers of residential construction firms in the country. Our findings revealed that the economic dimension is the least developed, indicating a need for improvement. The project’s specific objectives include enhancing the MCS’s economic dimension, refining evaluation methods for goal fulfillment, implementing incentive programs, fostering decentralized decision-making, and nurturing human potential within residential construction firms. By addressing these objectives, the proposed EcoMCS application seeks to facilitate efficient and effective project management practices in the residential construction industry, ultimately contributing to more sustainable and cost-effective construction projects.