Economic Strategy for the Impact of the COVID-19 Pandemic on Construction Project Implementation

Aside from project delays, the COVID-19 pandemic's impact on the construction industry includes the distribution of construction supplies and materials, labour and labour reductions, work hour reductions, and even temporary work stoppage for projects in the red zone. On the other hand, domestic construction is in a pickle since PUPR Minister Basuki Hadimuljono said that despite the COVID-19 epidemic, construction services would continue to operate under the Instruction of the Minister of PUPR No 2/2020, which was issued on March 27, 2020. This forces the construction industry to continue working while adapting to numerous adjustments during and after the epidemic. Method A survey is the data-gathering tool that will be utilized in this study. The data collection instrument will be a questionnaire that will be distributed either online or offline. Principal Component Analysis was employed as the analytical technique (Principal Component Analysis). The findings of this research indicate that the following elements contribute to the effect of the Covid-19 pandemic on construction projects: project finance factors, regional restraint factors (PSBB), labour factors, material and equipment factors, project uncertainty factors, and strike factors. Numerous ways may be used to undertake construction projects during and after a pandemic, each tailored to the primary components generated. For the first Main component, the following solutions are possible: 1) Managing the cash flow of the project effectively and efficiently; 2) Using the way of analysis of the value of the outcomes (earn value method) to manage the project's budget and schedule; 3) Preparing an unexpected budget for the project.