Project Financial Management for Construction Projects in Malaysia: Impact of MCO Towards Ongoing Projects
The COVID-19 pandemic has brought disruption forcing lockdowns in many countries. Malaysia is not excluded in the effort to contaminate the spread of the virus. Movement Control Order (MCO) and the series of national lockdown has been implemented starting 18th March 2020. Due to that, MCO has impacted all industries nationwide including the construction industry. Most of the impacts that are recognized have influenced the project’s performance. However, the critical factor of time and cost has been significantly identified as the essential factors impacted by MCO. Hence, this paper intends to examine the consequences of MCO on the ongoing project. The aspect of financial management is focus to be investigated. In getting result of the study, questionnaire feedback used to gather the respond on the impacts brought by MCO towards the ongoing projects financial management. The survey is spread throughout the construction industry targeting the project managers and the team which randomly selected based on contractors registered under the Malaysian Construction Industry Development Board (CIDB). The result of the survey used to figure out the impacts towards ongoing projects financial management which could be essential as a reference to future project endeavors in facing unforeseen circumstances during project execution. 50 respondents were project managers or project personnel who completed the given survey questionnaire. The findings highlighted that project financial management is one of the key areas that shall be comprehensively observed by project managers due to its influences on the project’s success.
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