Abstract
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).
Highlights
A crisis can be defined as an unexpected event facing the organization and representing a great threat to its high priority values, requiring a time-pressured response [1]
This part includes the Statistical analysis of the questionnaire form, which is divided into four sections
The results showed that Iraq is still suffering from the spread of financial and administrative corruption with relative index (RII) (0.93) despite the strategies announced and used in the fight against corruption by the regulatory agencies and integrity agencies
Summary
A crisis can be defined as an unexpected event facing the organization and representing a great threat to its high priority values, requiring a time-pressured response [1]. It cannot be dealt with using normal routine procedures. The data in the national development plan indicate that the oil sector is the dominant sector in generating GDP, as its percentage increased from 51.26% in 2010 to 55.1% in 2015 It took first place in the forming federal budget revenues by 97% in 2013, but this percentage decreased to 85.9% in 2017 [10].
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