Lessons learned from cost control in construction projects during a pandemic

Abstract

The COVID-19 pandemic has posed many serious challenges for controlling costs in construction projects, including supply chain disruptions, fluctuating material prices, labor shortages, and increased expenses from pandemic prevention measures in Vietnam. These factors raise the risk of cost overruns, which negatively affect project progress and investment efficiency. In this situation, summarizing lessons learned in cost control is crucial to improve adaptability and risk management in construction projects. This study aims to analyze and organize lessons learned on cost control during the pandemic by reviewing existing research, expert opinion surveys, and project implementation practices. The findings highlight important lessons, including stabilizing the supply chain for materials and labor, encouraging the use of digital technology in construction and cost management, and maintaining flexibility in contract management and contingency planning. These insights provide a scientific and practical foundation for improving cost control efficiency and supporting the sustainable development of construction projects in similar crisis situations.