The war against Ukraine has had several impacts on global supply chains and the economy, which, in turn, have affected the construction industry worldwide. Here are the key points and how a quantity surveyor may help alleviate some of the issues:
The conflict has disrupted supply chains, particularly for construction materials and equipment. Trade routes may be blocked or rendered unsafe, leading to delays and shortages. Quantity surveyors can help identify alternative sources of materials and equipment, assess their suitability, and manage the procurement process effectively. Their expertise can contribute to finding solutions to supply chain disruptions and ensuring timely project delivery.
The war has caused fluctuations in commodity prices, including those of construction materials such as steel, cement, and timber. Quantity surveyors can closely monitor these price fluctuations and provide accurate cost estimates, taking into account market dynamics. They can also advise on procurement strategies, such as bulk purchasing or long-term contracts, to mitigate the impact of price volatility on construction projects.
The war has introduced financial risks, including currency devaluation, economic instability, and credit challenges. Quantity surveyors can conduct comprehensive financial risk assessments for construction projects, considering factors such as exchange rate fluctuations, inflation, and creditworthiness of suppliers and contractors. This analysis helps clients make informed decisions and develop risk mitigation strategies.
Given the challenges posed by the war, cost optimisation becomes crucial. Quantity surveyors can employ value engineering techniques to identify cost-saving opportunities without compromising quality or functionality. They can assess alternative materials, construction methods, and design approaches to maximise cost efficiency in projects. Their expertise in analysing costs and value can contribute to achieving optimal project outcomes.
The war has introduced heightened risks and uncertainties to the construction industry. Quantity surveyors can play a key role in risk management and contingency planning. They can identify potential risks, develop risk mitigation strategies, and establish contingency plans to address unforeseen events. Their expertise in quantifying and managing risks helps minimise the impact of the crisis on construction projects.
In summary, the war against Ukraine has created significant challenges for global supply chains and the construction industry’s economy. Quantity surveyors can contribute to alleviating these issues by managing supply chain disruptions, assessing financial risks, optimising costs, conducting feasibility analyses, and implementing effective risk management and communication strategies. Their expertise can help navigate the crisis and support the successful execution of construction projects in a challenging environment.
