Tracking tension
Of course, while pragmatic responses to the effects of the COVID-19 crisis have calmed the turbulence (at least in the short term), they haven’t completely hidden the points of tension in contracts and the difficulties that have percolated the industry. Delays to projects are the most obvious consequences of the lockdowns, social distancing and other restrictions that have been forced on states and governments. Our survey indicates that time is one of the primary risks for causing tension or a dispute in a construction project.
Some 47% of respondents identify time as the key risk, compared with only 38% in 2020. This is logical given the unique challenges the industry is facing during the crisis. Cost appears to be slightly less of a concern in 2021 than in 2020, with a 5% fall in respondents identifying this as a principal concern, almost certainly because time is now of higher importance. Further research has highlighted the importance of communication and understanding the counterparty, with interviewees pointing to the greater need to align expectations during this unique period.
