Comparison of construction project risks before and during COVID-19 in Singapore: criticality and management strategies

Abstract

Abstract The outbreak of COVID-19 pandemic has caused worldwide disruption in construction industry. Although an increasing number of construction projects have been resumed, construction industry still faces significant risks due to the pandemic. The comparison of risk factors faced by construction industry before and during the pandemic helps us understand the dynamic risk transformation brought by the pandemic; however, few efforts have been made to understand the risk changes in construction sector. This study assessed the likelihood, impact, and criticality of risks brought by the pandemic in construction industry through a comparative analysis using Singapore as an example and proposed an innovative risk management solution to manage these risks accordingly. Survey questionnaires and semi-structured interviews were adopted. The finding indicated effective relief measures from the government to relieve the contractors’ liability in Singapore. Due to the pandemic, prioritized likelihood of risk occurrence changed from financial risk to labour shortage. Moreover, the finding highlighted that safety and health risks required significant attention, as they were ranked top in both periods. This study aids the understanding of how prioritized risks shifted during the pandemic and enlightens a promising and scalable risk management solution for industry stakeholders to establish better recovery from similar pandemics.