Facilitating project teams and members’ adaptive performance is becoming increasingly important in times of crisis. This study establishes a multilevel model investigating how project managers’ psychological resilience influences adaptive performance. The researchers collected questionnaires from 59 project managers and 529 team members, respectively, to conduct empirical analysis. Findings validate the positive effect that project managers’ psychological resilience has on adaptive performance, the mediating impact of positive emotions, and the boundary role of stakeholder support. This study provides valuable practical suggestions on project management in crises.