In: Operations Management
What are the potential impacts of the Coronavirus pandemic on engineering projects?
As the COVID-19 pandemic continues to spread all over the world and the governmental and private sectors formulate their responses, it has become transparentto see that the associated economic impacts will be significant and affects all sectors of the economy, including engineering and construction sectors.
Due to this pandemic, many construction projects may be delayed, or perhaps gets canceled, due to the impacts of COVID-19 on the organizations and governments that commissioned them. Project owners are considering reductions in workforce, and other site supervision and general conditions costs, to mitigate added costs that may be incurred due to project slowdowns or suspensions.
Due to this virus all construction projects in the variuos countries the order has been passed out to shut down all the engireeing and construction projects for at least two more weeks, with the exception of emergency projects such as roadwork and gas hookups.