Modeling the relationship between value management implementation phases, critical success factors and overall project success

Abstract

Purpose This study aims to develop an overall project success (OPS) model by investigating the mediation impact of value management (VM) implementation between VM critical success factors (CSFs) and OPS as well as the moderation impact of VM CSFs between VM implementation and OPS. Design/methodology/approach In total, 335 structured questionnaires were administered to relevant stakeholders in the study area. The research used a partial least square structural equation modeling (PLS-SEM) to model the relationship among VM implementation, CSFs and OPS. Findings The results revealed that there is an indirect positive and significant correlation among the variables. The model prediction analysis also significantly impacted with 59.9% on OPS by setting VM implementation as a mediator variable and 61% by setting VM CSFs as a moderation variable. Practical implications This research work will serve as a guide or benchmark for decision-makers who want to use VM to improve the success of their building projects. Originality/value This study fills the knowledge gap by identifying and emphasizing the impact of VM CSFs and activities on OPS.