Influence of Project Management Techniques and Risk Management on Project Success

Abstract

The issue of project success is still a thorn in the flesh of industries worldwide with significant percentage of project failures or low performance being recorded even after decades of research on professionalisation of project management. This paper explored how project management practices and risk management affects the success of projects within the multi-industry Pakistan project context. The study design was a quantitative cross-sectional survey where 300 project managers and team members in the construction, IT, and services industries were sampled to fill out a structured questionnaire that integrated all constructs using a 5-point Likert scale that was validated. The convenience sampling was used. Some data were processed with SPSS 25 and AMOS 24 with the help of descriptive statistics, Cronbach alpha reliability tests, Pearson correlation coefficients, confirmatory factor analysis (CFA), and structural equation modeling (SEM). There was a strong direct positive impact of project management techniques on project success (beta = 0.51, p < .001), and risk management practices (beta = 0.44, p < .001). A structural model characterized 58.9 percent of the variation in project success (R-squared =.589). CFA ascertained excellent measurement model validity with AVE of between.53 and.58 and composite reliability of between.87 and.93. The findings contribute to the empirical literature on project management in the context of developing economies, and practitioners can use it to gain an evidence-based basis on enhancing the outcomes of projects through organized means of applying techniques and organized risk management.