Cost Impacts and Contractors’ Strategies during the COVID-19 Pandemic in Malaysia

Choong, Wei Ee (2021) Cost Impacts and Contractors’ Strategies during the COVID-19 Pandemic in Malaysia. Final Year Project (Bachelor), Tunku Abdul Rahman University College.

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Abstract

As the COVID-19 pandemic has occur recently and this event is affecting every sector in a certain way. Basically, construction sector will be one of it to be affected. Therefore, this dissertation is to explore the cost impacts and Contractors’ strategies during the COVID-19 pandemic in Malaysia. As the various country will consist of different condition and situation. Therefore, to having a research about the cost impacts that generate from the pandemic and how the strategies of construction Contractor conduct to against the cost impacts will be benefit the construction industry as this research may as a reference for prevent measure in future for similar situation. Besides, the data and information were collected through interview with 15 persons who experienced, knowledgeable and suitable positioning. The targeted interviewee was located in Malaysia which the respondent shall be practicing in the construction field in any city in Malaysia. After the data collection, thematic analysis method will be proceeded to analyse the data of the cost impacts caused by the Covid-19 pandemic on construction Contractors and the strategies that the construction Contractors used to handle the cost impacts caused by the Covid-19 pandemic in Malaysia. In the result of the data analysis, to provide safety environment with comply the standard operation procedure, the construction materials’ price fluctuation, labour shortage in the marker, work progress been delayed, prolongation cost, cash-flow issue and unnecessary or accidental causes monetary losses during the Covid-19 pandemic period were founded that caused the cost impact. Furthermore, also founded the construction Contractors were used the strategies of taking proactive action against Covid-19 relevant issue, compare the prices among suppliers before purchase any item, through the purchase or arrangement of construction materials, restructure time frame or sources of project, claim time or cost through contractual way, deduct other sources from company, claim or load cost from the third party or sharing the cost impacts with other parties to reduce the cost impacts caused by the Covid-19 pandemic. Thus, further research is suggested to find out the level of the cost impact in construction industry compare within the cost impact explore in the research and that will be a quantitative study.