The relationship between sustainable management practices and project success: A mediated moderated study on developing economies

Abstract

The present research investigates the relationship between sustainable management practices and project success with the mediating role of effective risk management and moderating impact of high performing project teams in context of high-rise real estate developmental projects of Pakistan. Real estate is worldwide recognized as the backbone of country’s economy and Pakistan is a developing country where living in detached and independent houses was once seen as sign of prestige but over the past few years, high rise and midrise buildings are dominating the skyline of real estate investment here. To make real estate projects sustainable in longer run, developers need to consider the social, environmental and economic impacts that a project may have in future also, alongside internal factors for project success. Deductive approach is used for this descriptive study to validate generalized hypothesis from previous studies for Pakistan with the introduction of new mediator and moderator. A quantitative technique involving questionnaires is followed, and purposive sampling is deployed to discover the impact of each variable. Data is collected from project managers working in different construction projects of Rawalpindi and Islamabad. Entire data is processed in SPSS and AMOS using Structural equation modelling technique (SEM). By recognizing that all internal and external factors are crucial for project success, the study provides an insightful framework for developers and builders to investigate aspects like culture, social and legal environment, heritage and norms, as well as the financial benefits that support the survival and sustainability of projects.