EXPLORING THE CHALLENGES IN IMPLEMENTING BLOCKCHAIN TECHNOLOGY IN CONTRACT MANAGEMENT FOR QUANTITY SURVEYING PROFESSION IN MALAYSIAN CONSTRUCTION INDUSTRY
DOI:
https://doi.org/10.21837/pm.v23i38.1816Keywords:
blockchain technology, construction, contract management, quantity surveying, challenges, adoptionAbstract
The increasing complexity of construction projects in Malaysia has amplified the need for transparent, efficient, and secure contract management systems, particularly within the quantity surveying profession. Blockchain technology, with its decentralised ledger and smart contract capabilities, presents a potential solution to long-standing issues such as data manipulation, inefficiencies, and a lack of accountability in contract administration. This study explores the challenges associated with implementing blockchain technology in construction contract management and propose effective strategies for its integration into quantity surveying. A quantitative research method was employed through the distribution of 600 questionnaires to registered quantity surveyors. Data collected from the survey of 142 respondents were analysed using descriptive statistical techniques. The results of this study reveal the ranking of key barriers to blockchain adoption by the quantity surveying profession, including the immaturity of the technology, high implementation costs, privacy concerns, resistance to change, and security risks. This paper provides recommendations for addressing these challenges to facilitate the digital transformation of contract management in the industry. This study concludes that while blockchain holds significant potential to contract management efficiency, strategic efforts in education, policy, and industry collaboration are essential to support its successful adoption by the Malaysian quantity surveying profession.
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