Risk Management and Project Success

A Case of Housing Projects in Pakistan

Abstract

Purpose: This study aims to provide a thorough understanding of risk management and project success by examining the interactions and combined effects of many risk management factors, focusing on the potential mediating role of project risk management in conflict resolution in housing projects in Pakistan.

Methods: The project management team members employed by Karachi-based construction enterprises make up the sample population for the study. The survey approach was used as the data collection strategy for this investigation, while PLS-SEM was used for the data analysis.

Results/Findings: The results revealed that PRM has a positively significant effect on PS. MAN, ST, MA, and RE have a positively significant effect on PRM. DE has a positively insignificant effect on PRM. FI has a positively insignificant effect on PRM. The results also show that PRM significantly and positively mediates the effect of MAN, ST, MA, and RE on PS. PRM insignificantly and positively mediates the effect of DE and FI on PS.

Novelty/Originality: The work stands out for its focus on construction projects in developing countries like Pakistan. It aims to provide a deeper understanding by examining how project risk management mediates conflicts, a less explored area in the field. By addressing gaps in existing research and tackling practical challenges, like sampling bias and ethical considerations, it offers valuable insights for improving project success in these contexts.