Investigating the Effects of Economic Crisis on Construction Projects in Iraq

Construction is a complex activity performed in an almost uncontrolled environment. Although, in theory, projects can be well planned in advance, there is a possibility that unexpected events and crises will disrupt these plans, which will affect the progress of projects. Construction companies can...

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Autores principales:	Fadhil Ghasaq A., Burhan Abbas M.
Formato:	article
Lenguaje:	EN FR
Publicado:	EDP Sciences 2021
Materias:	economic crisis economic recession construction industry crisis effects cabinet resolution 374 Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/a14b151bacca482aa6c642b6336d7466
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spelling	oai:doaj.org-article:a14b151bacca482aa6c642b6336d74662021-11-12T11:43:50ZInvestigating the Effects of Economic Crisis on Construction Projects in Iraq2267-124210.1051/e3sconf/202131802005https://doaj.org/article/a14b151bacca482aa6c642b6336d74662021-01-01T00:00:00Zhttps://www.e3s-conferences.org/articles/e3sconf/pdf/2021/94/e3sconf_icge2021_02005.pdfhttps://doaj.org/toc/2267-1242Construction is a complex activity performed in an almost uncontrolled environment. Although, in theory, projects can be well planned in advance, there is a possibility that unexpected events and crises will disrupt these plans, which will affect the progress of projects. Construction companies can be easily affected by crises because the initial investment costs are very high in construction projects, which may lead to huge financial damages. One of the most prominent crises that Iraq faced was the financial crisis in 2014, which had a significant impact on various activities and the construction industry. This research aims to explore the most important causes of the economic crises in Iraq in general, investigate the impact of this crisis on the construction industry in Iraq particularly, explore the most important factors that contributed to the aggravation of the crisis in this area. Finally, explore the most important strategies adopted by higher authorities and construction companies during the economic recession that followed the crisis to mitigate its impact. One hundred fifty-one closed questionnaires were distributed for this purpose. The results showed that financial and administrative corruption is one of the most important causes of crises with (RII) 0.93. Also, 82% of the respondents answered that the projects had increased their duration significantly so that it was difficult to set a date for their completion due to the insolvency or inability of the Iraqi state to pay the financial dues to the contractors. This insolvency negatively impacted the construction industry during the crisis with RII (0.832).Fadhil Ghasaq A.Burhan Abbas M.EDP Sciencesarticleeconomic crisiseconomic recessionconstruction industrycrisis effectscabinet resolution 374Environmental sciencesGE1-350ENFRE3S Web of Conferences, Vol 318, p 02005 (2021)
institution	DOAJ
collection	DOAJ
language	EN FR
topic	economic crisis economic recession construction industry crisis effects cabinet resolution 374 Environmental sciences GE1-350
spellingShingle	economic crisis economic recession construction industry crisis effects cabinet resolution 374 Environmental sciences GE1-350 Fadhil Ghasaq A. Burhan Abbas M. Investigating the Effects of Economic Crisis on Construction Projects in Iraq
description	Construction is a complex activity performed in an almost uncontrolled environment. Although, in theory, projects can be well planned in advance, there is a possibility that unexpected events and crises will disrupt these plans, which will affect the progress of projects. Construction companies can be easily affected by crises because the initial investment costs are very high in construction projects, which may lead to huge financial damages. One of the most prominent crises that Iraq faced was the financial crisis in 2014, which had a significant impact on various activities and the construction industry. This research aims to explore the most important causes of the economic crises in Iraq in general, investigate the impact of this crisis on the construction industry in Iraq particularly, explore the most important factors that contributed to the aggravation of the crisis in this area. Finally, explore the most important strategies adopted by higher authorities and construction companies during the economic recession that followed the crisis to mitigate its impact. One hundred fifty-one closed questionnaires were distributed for this purpose. The results showed that financial and administrative corruption is one of the most important causes of crises with (RII) 0.93. Also, 82% of the respondents answered that the projects had increased their duration significantly so that it was difficult to set a date for their completion due to the insolvency or inability of the Iraqi state to pay the financial dues to the contractors. This insolvency negatively impacted the construction industry during the crisis with RII (0.832).
format	article
author	Fadhil Ghasaq A. Burhan Abbas M.
author_facet	Fadhil Ghasaq A. Burhan Abbas M.
author_sort	Fadhil Ghasaq A.
title	Investigating the Effects of Economic Crisis on Construction Projects in Iraq
title_short	Investigating the Effects of Economic Crisis on Construction Projects in Iraq
title_full	Investigating the Effects of Economic Crisis on Construction Projects in Iraq
title_fullStr	Investigating the Effects of Economic Crisis on Construction Projects in Iraq
title_full_unstemmed	Investigating the Effects of Economic Crisis on Construction Projects in Iraq
title_sort	investigating the effects of economic crisis on construction projects in iraq
publisher	EDP Sciences
publishDate	2021
url	https://doaj.org/article/a14b151bacca482aa6c642b6336d7466
work_keys_str_mv	AT fadhilghasaqa investigatingtheeffectsofeconomiccrisisonconstructionprojectsiniraq AT burhanabbasm investigatingtheeffectsofeconomiccrisisonconstructionprojectsiniraq
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Investigating the Effects of Economic Crisis on Construction Projects in Iraq

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