Impact of Successful Timely Completion of Construction Projects on the Economic Development of Sri Lanka

The construction industry is identified as an income-driven sector, especially in developing countries. However, in the Sri Lankan construction industry, the vital factor of ‘on-time project completion’ is not been achieved at all times. Since, the public sector projects are not being completed within the anticipated duration, their expected outcomes are not well-received, resulting in a form of unconstructive economic development.
The purpose of this study is to resolve the highlighted problem statement – the impact on the economic development in Sri Lanka, if the construction projects were successfully timely completed – through achievement of the laid down objectives. The main objective is to illustrate the impact of the successful timely completion of construction projects on the economic development of Sri Lanka. The research employs a qualitative research methodology, delving on semi-structured interviews. The impact of successful timely completion of construction projects on the economic development of Sri Lanka are determined through a detailed literature survey. The potential implementations to mitigate adverse time impact on public sector construction projects are identified, by analyzing the qualitative data through a content analysis, using frequency tables gathered from a sample of 30 professionals.
The data covers the wider Sri Lankan construction industry, obtained through conducting comprehensive interview sessions. The major findings deliberate a greater impact from the specified time factors that derives the project’s successful completion on the economic development of Sri Lanka. It concludes with key mitigating implementations such as contracting qualified/competent parties, increased ethical professionalism of parties and proper supply chain management etc. This research is conducted to provide key implementation factors for the Sri Lankan construction industry, aiming to achieve timely project completion and enhance contributions to the national economy, while also guiding future studies.