Success and Risks Related to Housing Projects in Pakistan: A Moderating Role of Project Management Risk Management

Abstract

This study investigates the critical success factors (CSFs) and their interplay with project risks in determining the success of housing projects in Karachi, Pakistan, while considering the moderating role of risk management. Analyzing data from 432 project management professionals within Karachi-based housing societies, the study establishes significant relationships between CSFs and various project success dimensions, including time, cost, quality, project profile objectives, impact, stakeholder satisfaction, and preparation for the future. Additionally, the research reveals that project risks exert substantial influence on these success dimensions. Risk management is a strong moderator, increasing risk variable’s influence on project results. The findings provide insightful information for decision-makers, recommending the creation of sector-specific rules that place a strong emphasis on the highest standards in risk management and project execution. The construction industry benefits from this since it encourages long-term development and leads to better results for projects.