Exploring Potential Solutions to Deal with Price Fluctuation of Construction Materials in Myanmar

Material price fluctuation presents a significant challenge to the construction sector in Myanmar, leading to substantial project risks and economic instability. This paper explores major causes of price fluctuation, effects, and potential solutions to deal with it in Myanmar practice. Employing a sequential mixed-methods approach, the study utilized semi-structured interviews with 20 specialists and a quantitative questionnaire survey administered to 110 industry professionals. Data analysis involved thematic analysis for qualitative insights and the Relative Importance Index (RII) for quantitative assessment. Key findings reveal that macroeconomic factors such as Devaluation of Currencies, Inflation, Government Policies, and Exchange Rates are the most critical causes. The primary effects identified include Low Building Production and Housing Shortage, Poor Quality, and Project Delays. Critically, the study identifies Insurance Coverage, Price Adjustment Clauses (PAC), and Value Engineering Concept Adoption as the most effective solutions. This research provides empirical evidence and actionable insights for industry professionals and policymakers in Myanmar, aiming to foster a more resilient and stable construction environment amidst economic volatility.