Over 1000 project professionals were surveyed by research company Censuswide for the Association for Project Management (APM), including project professionals working in the construction sector.

Almost half (49%) of those project managers working in construction say their main project has been impacted by the recent economic instability – such as rising energy prices, inflation, and interest rate increases. And of those project managers who said their project has been affected, the most popular responses to reasons why include:

• Project delays - 42%
• Changes to supply and procurement - 39%
• Changes to funding - 33%
• Changes to planning - 27%

APM’s survey also reveals what project professionals working within the construction sector think the UK government should prioritise in order to provide greater economic stability for projects and project professionals. Four in 10 (40%) say sourcing new energy supplies is most important, 38 per cent say investing in infrastructure in the UK should be prioritised and 38% said by trying to resolve international conflicts.

The survey also reveals the impact the cost of living crisis is having on the personal wellbeing of project professionals. More than half (56%) of project professionals working in the construction sector say that their wellbeing has been negatively impacted by the current situation in the UK.

However, the findings also show that employers are responding, with half (51%) of construction project professionals saying their employer is helping employees with the cost of living in different ways - such as financial wellbeing assistance (46% of respondents), helping with expenses - such as travel costs (40%), wage/salary increases (37%), and providing a one-off cost of living support payment to staff (31%).

Professor Adam Boddison, chief executive of APM, said: “Individuals and industries across the UK are currently dealing with the cost of living crisis and the construction sector is no different, as shown by the findings of our latest survey. It is clear that many projects are being impacted by the recent economic events. What’s more, a high number of project professionals say their wellbeing has been negatively impacted.

“It is positive to see the high number of respondents who say their organisation does already have certain schemes in place to support employees financially, whether it be helping with expenses or providing one of cost of living payments for staff. However, we urge all employers to take notice of the findings of our survey and continue to put the appropriate support mechanisms in place for the wellbeing of their employees, which in turn will help the longer term success of project delivery in the UK.”

Looking ahead to the future challenges facing the project profession over the next five years, the most popular responses from respondents in the construction sector are increased longevity and ageing population (24%), the movement of people around the world (22%), and social and economic inequality (20%), and wars and armed conflict (19%) are considered as being the biggest challenges.

APM offers a mental health toolkit to support project professionals who have been affected by recent events, as well as ideas for workplace improvements.