Evolving Risks and Emerging Opportunities in Malaysia’s Quantity Surveying Profession

Abstract

This paper highlights the critical role of Quantity Surveyors (QSs) within Malaysia’s construction industry. Given the various risks faced by the profession, such as financial constraints and economic fluctuations, this study aims to identify both the threats and opportunities for QSs in Malaysia. The key objectives of this study are to explore the opportunities available for the quantity surveying profession in Malaysia; to investigate the risks faced by the quantity surveying profession in Malaysia and to identify strategies for the survival and advancement of quantity surveying in Malaysia. Quantitative research was employed, targeting registered Consulting Quantity Surveying Practice (CQSP) in Kuala Lumpur. Data were collected from the Board of QSs Malaysia (BQSM) website in 2024, with 47 out of 109 CQSP respondents participating, representing a response rate of 43%. Key findings from the analysis, conducted using IBM SPSS Statistics Version 29.0, include the following; in embracing digitalization, QSs must adopt digital technologies to remain relevant in the industry, the lack of skills and technological knowledge among QSs poses the most significant risk, potentially affecting project success and continuous learning and skill enhancement are essential to address these risks and ensure QSs stay up-to-date with industry advancements. These strategies can support the development of the QS profession in Malaysia by addressing challenges and leveraging opportunities, thereby maintaining high-quality standards in the construction industry. The findings also provide valuable insights for decision-makers in formulating measures that balance risks and opportunities, promoting a sustainable and efficient quantity surveying profession.