Kallow, M A; Bodla, A A; Ejaz, A and Ishaq, M R (2023) How do risk management practices lead to project success in the construction industry? The mediated moderation of risk coping capacity and risk transparency. International Journal of Construction Management, 23(16), pp. 2779-2787. ISSN 1562-3599
Abstract
Project risks are widespread in the construction industry because of the uncertainty and complexity involved in construction activities. Many factors directly or indirectly affect a project’s successful completion. Therefore, a project’s success largely depends on how it manages risks. This study examines the effect of risk management practices on project success. In addition, it explores the mechanism that leads to project success. Understanding risk management practices and processes that influence project performance is vital for success. This study proposes that three risk management practices (e.g. risk identification, monitoring, and prevention) influence project success. Furthermore, this study maintains that the risk coping capacity mediates, and risk transparency moderates the relationship between risk management practices and project success. We tested the hypotheses using survey questionnaire data provided by 320 project managers. It reveals that risk management practices significantly influence project success. It also finds that risk coping capacity mediates the relationship between risk management practices and project success. Furthermore, risk transparency moderates the relationship between risk coping capacity and project success. This study contributes to the risk management literature by explaining the mechanism that leads to project success. It also discussed theoretical contributions and practical implementations.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | project risk management practices; risk coping capacity; risk identification; risk monitoring; risk prevention; risk transparency |
| Index terms: | construction activity, project risk management, project success, project manager, implementation, prevention, construction industry, transparency, monitoring, coping, risk management, project performance, survey, risk identification, complexity, questionnaire |
| Subjects: | professional development, project management theory and practice, financial risk, behavioral psychology, systems engineering, industry analysis, control systems, data collection methods, risk assessment, profession, construction operations, contractual arrangements |
| Topics: | Site Management, Cost Management, Research Practice, Project Management, Engineering Principles, Information Management, Risk Management, Roles and Professions, Procurement |
| Descriptive scope: | 5 PCTEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here