Critical success factors for contracting organization during recession

Abstract

The unfavorable economic condition has caused tremendous impact on construction industry. It is interesting to note that the impact is not only focusing on the success rate in obtaining new project, but also selection of approach made by construction companies. Thus, specifically, this study is to focus on the critical success factors (CSFs) for a contracting organization faced during recession. To achieve the aim of the study, an investigation on the impact, business objectives, and measures taken by contracting organizations is identified. The research methodology includes literature review and questionnaire survey. The data was analyzed using relativity index and average weighting index method. Based on the analysis of the data obtained from the survey, it was concluded that the most agreeable critical success factor is to possess strong financial status. For future research, it is recommended that a specific study can be conducted on the benchmarking during recession.