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Impact of risk management on project performance: the importance of soft skills

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  • Marly Monteiro de Carvalho
  • Roque Rabechini Junior

Abstract

This study aims to elucidate the relationship between risk management and project success, considering the contingent effect of project complexity. This approach also combines aspects of soft and hard skills. This methodological approach involves a literature review to underpin the conceptual framework and a survey for empirical validation, using structural equation modelling. The hypotheses were tested based on a field study involving 263 projects distributed among eight industries. The fieldwork involved interviews with project managers and risk managers and an analysis of internal company documents about the projects’ performance. The structural model presented herein provides a means for correlating the hard and soft sides of risk management with project success, understanding the moderating effect of project complexity. The soft side of risk management appears most prominently and explains 10.7% of the effect on project success. Moreover, the soft side supports the hard side, since we found a significant correlation that explains 25.3% of the effect on the hard side.

Suggested Citation

  • Marly Monteiro de Carvalho & Roque Rabechini Junior, 2015. "Impact of risk management on project performance: the importance of soft skills," International Journal of Production Research, Taylor & Francis Journals, vol. 53(2), pages 321-340, January.
    • Handle: RePEc:taf:tprsxx:v:53:y:2015:i:2:p:321-340
    DOI: 10.1080/00207543.2014.919423
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    Citations

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    Cited by:

    1. Mansoor Shekarian & Mahour Parast, 2021. "Do Entrepreneurship Skills Improve Project Performance? A Project-Based Learning Perspective," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 30(2), pages 267-305, September.
    2. Rocío Rodríguez-Rivero & Isabel Ortiz-Marcos & Luis Ballesteros-Sánchez & Xabier Martínez-Beneitez, 2020. "Identifying Risks for Better Project Management between Two Different Cultures: The Chinese and the Spanish," Sustainability, MDPI, vol. 12(18), pages 1-14, September.
    3. Lyu, Wenjing & Liu, Jin, 2021. "Soft skills, hard skills: What matters most? Evidence from job postings," Applied Energy, Elsevier, vol. 300(C).
    4. Tor Guimaraes & Ketan Paranjape & Mike Walton, 2019. "An Expanded Model of Success Factors for NPD Performance," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 16(07), pages 1-29, November.
    5. Zuo, Fei & Zio, Enrico & Xu, Yue, 2023. "Bi-objective optimization of the scheduling of risk-related resources for risk response," Reliability Engineering and System Safety, Elsevier, vol. 237(C).
    6. Singh, Shikha & Chandra Misra, Subhas & Kumar, Sameer, 2020. "Identification and ranking of the risk factors involved in PLM implementation," International Journal of Production Economics, Elsevier, vol. 222(C).
    7. Jamaliah Said & Md. Mahmudul Alam & Razana Juhaida Johari, 2020. "Assessment of risk management practices in the public sector of Malaysia," International Journal of Business and Emerging Markets, Inderscience Enterprises Ltd, vol. 12(4), pages 377-390.
    8. Elly Rasimikayati & Tuti Karyani & Bobby Rachmat Saefudin, 2023. "Characteristics Of Vegetables And Fruit Firms And Their Relationship With Business Risk," International Journal of Agriculture and Environmental Research, Malwa International Journals Publication, vol. 9(4), August.
    9. Guido Capaldo & Vincenza Capone & Jolanta Babiak & Beata Bajcar & Dorota Kuchta, 2021. "Efficacy Beliefs, Empowering Leadership, and Project Success in Public Research Centers: An Italian–Polish Study," IJERPH, MDPI, vol. 18(13), pages 1-19, June.
    10. Sara Isabel Marin-Zapata & Juan Pablo Román-Calderón & Cristina Robledo-Ardila & Maria Alejandra Jaramillo-Serna, 2022. "Soft skills, do we know what we are talking about?," Review of Managerial Science, Springer, vol. 16(4), pages 969-1000, May.
    11. Breen, Liz & Acosta-Gómez, Jaime & Tomlinson, Justine & Medlinskiene, Kristina & Elies-Gomez, Jacobo, 2020. "A preliminary insight into the role and importance of management skills in the prevention of occupational derailment: An exploratory analysis of UK and Spanish pharmacists," European Management Journal, Elsevier, vol. 38(3), pages 492-505.
    12. Silvia Martínez-Perales & Isabel Ortiz-Marcos & Jesús Juan Ruiz & Francisco Javier Lázaro, 2018. "Using Certification as a Tool to Develop Sustainability in Project Management," Sustainability, MDPI, vol. 10(5), pages 1-18, May.
    13. Bin Xue & Bingsheng Liu & Ting Sun, 2018. "What Matters in Achieving Infrastructure Sustainability through Project Management Practices: A Preliminary Study of Critical Factors," Sustainability, MDPI, vol. 10(12), pages 1-20, November.
    14. Xun Liu & Zhiyuan Xue & Zhenhan Ding & Siyu Chen, 2023. "Sustainability Assessment of Municipal Infrastructure Projects Based on Continuous Interval Argumentation Ordered Weighted Average (C-OWA) and Cloud Models," Sustainability, MDPI, vol. 15(6), pages 1-23, March.
    15. Monia Castellini & Vincenzo Riso, 2020. "Risk Management and Management Control System, a close relationship in process: Isomorphism in the Italian Municipalities," Working Papers 2020039, University of Ferrara, Department of Economics.
    16. Tor Guimaraes & Ketan Paranjape & Mike Cornick & Curtis P. Armstrong, 2018. "Empirically Testing Factors Increasing Manufacturing Product Innovation Success," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 15(02), pages 1-26, April.
    17. Seyed Hossein Razavi Hajiagha & Hannan Amoozad Mahdiraji & Maryam Behnam & Boshra Nekoughadirli & Rohit Joshi, 2022. "A scenario-based robust time–cost tradeoff model to handle the effect of COVID-19 on supply chains project management," Operations Management Research, Springer, vol. 15(1), pages 357-377, June.
    18. Ariadna Linda Bednarz & Marta Borkowska-Bierć & Marek Matejun, 2021. "Managerial Responses to the Onset of the COVID-19 Pandemic in Healthcare Organizations Project Management," IJERPH, MDPI, vol. 18(22), pages 1-25, November.
    19. Xue, Jinjie & Yuan, Hongping & Shi, Benshan, 2016. "Investigating partners' opportunistic behavior in joint ventures in China: The role of transaction costs and relational exchanges," Journal of Business Research, Elsevier, vol. 69(12), pages 6067-6078.
    20. Marko Jakšič & Matej Marinč, 2019. "Relationship banking and information technology: the role of artificial intelligence and FinTech," Risk Management, Palgrave Macmillan, vol. 21(1), pages 1-18, March.
    21. Diego F. Uribe & Isabel Ortiz-Marcos & Ángel Uruburu, 2018. "What Is Going on with Stakeholder Theory in Project Management Literature? A Symbiotic Relationship for Sustainability," Sustainability, MDPI, vol. 10(4), pages 1-23, April.
    22. Miao Yu & Fangwei Zhu & Xiaotian Yang & Linzhuo Wang & Xiuxia Sun, 2018. "Integrating Sustainability into Construction Engineering Projects: Perspective of Sustainable Project Planning," Sustainability, MDPI, vol. 10(3), pages 1-17, March.
    23. Saad Muslet Albogami & Mohd Khairol Anuar Bin Mohd Ariffin & Eris Elianddy Bin Supeni & Kamarul Arifin Ahmad, 2021. "A New Hybrid AHP and Dempster—Shafer Theory of Evidence Method for Project Risk Assessment Problem," Mathematics, MDPI, vol. 9(24), pages 1-30, December.
    24. Nelson Moreno-Monsalve & Marcela Delgado-Ortiz & Alfredo Sanabria-Ospino & Tamara Tatiana Pardo Ezcurra & Yoni Wildor Nicolás Rojas & William Fajardo-Moreno, 2023. "High-Performance Project Teams: Analysis from the Stoic Approach," Sustainability, MDPI, vol. 15(22), pages 1-12, November.
    25. Sigal Kordova & Shimon Fridkin, 2021. "Risk Management for Defense SoS in a Complex, Dynamic Environment," Sustainability, MDPI, vol. 13(4), pages 1-17, February.

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