Construction delays could lead to additional expenses and financial losses. Categories for these adverse situations include project durations, additional labor – management – material and equipment costs, overtime work, rental expenses, and rescheduling of planned activities as well as subsequent projects. Other categories include cash flow, liquidated damages, client relationship, and reputation.
Construction delays could be the result of external factors such as permit delays, regulatory approvals, supplier delays, and natural disasters. Likewise, they could be the result of internal factors such as inadequate / ineffective planning, coordination, and communication.
Construction delays will require to diligently managing the impacts by efficient planning, realistic scheduling, communicating, collaborating, constant monitoring, and proactive mitigation of risks.
Overall, construction delays could lead to additional expenses and financial losses due to external and internal factors. They could be mitigated, alleviated, and/or resolved by quality scheduling and project management.
