DELAY OF FINAL ACCOUNT IN CONSTRUCTION PROJECT

Sim, Soon Lee (2023) DELAY OF FINAL ACCOUNT IN CONSTRUCTION PROJECT. [Final Year Project Report] (Unpublished)

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Abstract

The construction industry has been a significant contributor to Malaysia's economy. Although it represents a small portion of Malaysia's economy, it serves as a catalyst for boosting other sectors. The Final Account is a detailed summary of accounts that is prepared at the end of the construction period. Delays in Final Account can have a negative impact on both the time and financial aspects for contractors. Surprisingly, there has been no research conducted on the delay of Final Account in Kuching, Sarawak. Therefore, this study aims to explore the factors causing delays in the completion of Final Account in construction projects in Kuching, Sarawak. The objectives of this study are to investigate the importance of completing the final account, identify the factors causing delays in the completion of the final account among contractors, and evaluate the factors causing delays in the completion of the final account among consultants. A total of 94 respondents were selected to answer questionnaire surveys, and 2 interviewees were recruited for interviews using purposive sampling. The Final Account holds significant importance in Kuching's construction industry, particularly in determining the project's performance in terms of cost, time, and quality. From the contractor's perspective, client�related factors were found to be the most significant causes of delays in the Final Account, mainly due to financial problems. On the other hand, contractor-related factors were identified as the most significant causes of delays in the Final Account from the consultant's perspective. Both the contractors and consultants agreed that contractual factors were the least significant causes of delays in the Final Account, as the standard form of contract used in Kuching, Sarawak, is comprehensive and straightforward.

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