Moderating Role of Project Innovativeness on Project Flexibility, Project Risk, Project Performance, and Business Success in Financial Services

Abstract

Project risk management is crucial for project success and for achieving short-term and long-term project goals. This study examines the linkage between the management of project risks and project flexibility for information technology projects in Financial Services. A conceptual framework establishing the link between project risks, project flexibility, project performance, and business success, with project innovativeness as a moderating variable, has been introduced. To test the model, data were collated from over 400 managers working in Financial Services projects. The empirical outcomes through a Ordinal regression analysis demonstrate a substantial association between the management of project risks, project flexibility, and success of projects. Project innovativeness moderates the effects of project risks and project flexibility on project performance. Furthermore, managing project risks is vital to reduce the likelihood of failures in projects. This paper enriches existing research by applying a contingency perspective to project risk management and provides practical guidance for managing risks in projects professionally and also the relevancy of project flexibility.

Modelling the added value of corporate real estate on organizational performance

“…Considering the vulnerability of corporate real estate to financial and development risk, corporate real estate risk management must be aligned with the organization's risk management profile. Moreover, strategic corporate real estate decisions that would enhance employee performance to increase productivity, as well as flexible real estate decisions, are strongly anticipated to improve performance and create a competitive advantage for the organization (Tiwari and Suresha, 2021). We briefly discuss the four added value parameters hereafter.…”

Critical Success Factors for Public Sector Projects in Lagos

“…A company's critical success factors are those components of the business that are critical to achieving and maintaining the company's goals. A technique that attempts to make apparent those few areas that influence management success, according to Baker et al (2008) and Tiwari and Suresha (2021), is a crucial success factor. Specifically in the financial, information, and industrial systems industries, the approach was first utilised as a management tool in the 1970s as a management metric.…”

“…The success of public sector building projects may be attributed to some variables, including effective monitoring and assessment (Amade et al, 2015), managing the flow of information with tact (Lester, 2021), efficiency with which project operations are coordinated and integrated (Tiwari & Suresha, 2021), The ability of the project manager to effectively plan and budget the project, as well as to choose, train, develop, and motivate the right team, are all critical components of a successful project.…”

A case study on the relationship between risk assessment of scientific research projects and related factors under the Naive Bayesian algorithm

“…Furthermore, the intricate and diverse interdependencies among various project factors contribute to the complexity of these relationships, thereby limiting the efficacy of conventional methods 10 – 12 . Traditional approaches often focus solely on the individual impact of diverse factors, overlooking the nuanced relationships that exist between them—an inherent limitation in the realm of RA for SRPs 13 – 15 .…”