The COVID-19 pandemic has significantly impacted project implementation costs and caused delays across numerous industries. Various analysis found in the literature show that the predominant cause of project delays and higher costs have been people, material, and equipment movement restrictions, supply chain disruptions, and social distancing policies. The COVID-19 pandemic has seriously disrupted international supply chains in a variety of sectors. Many variables, including travel restrictions, labor shortages, lockdown procedures, and a spike in demand for medical supplies and equipment, were the main causes of the interruptions. To confirm this assumption, a comprehensive study was conducted to understand whether these factors affected project delays and cost overruns. A multiple regression analysis was conducted to analyze the significance and the volume of the effects of specific factors on project delays and rising project costs. Contrary to the previous understanding, we found that only a few factors or project risks associated with the COVID-19 pandemic have an effect. The findings show that only those risk factors related to material supply and epidemic prevention methods that the company was requested to implement inside the company had the influence on the delays in project implementation, while other risk factors had no major effects on a project schedule. Additionally, it has been found that only risks associated with rising costs of material supply affected the rising costs of projects during the COVID-19 pandemic, while other project risk factors had no influence. These findings can be valuable for developing risk mitigation strategies that will enable a smooth implementation of projects during similar events and long-term disruptions.
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