Enhancing Project Success in Construction: The Role of Internal Risk Management, Emotional Intelligence, Cognitive Bias, and Organisational Risk Culture
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Date
2024-12
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The British University in Dubai (BUiD)
Abstract
The construction industry continues to face significant challenges in contemporary society, and the need to improve project outcomes in this sector has become indispensable. With the increasing investment in construction projects and their capital-intensive nature, project managers have focused on enhancing operations and efficiency to meet the project goals. In addition to conventional project management practices, there is a need to determine the role and impact of cognitive and behavioural factors in the construction industry. Thus, this study sought to assess this problem by exploring the effect of emotional intelligence, cognitive bias, and internal risk management on project success. The study adopted a quantitative approach, and a questionnaire was used to collect data from individuals working in the construction industry. The findings show that emotional intelligence was positively associated with project success, cognitive bias was negatively associated with project success, and appropriate risk-taking behaviours were positively associated with project success. Organisational risk culture was not only positively associated with project success but also moderated the relationship between emotional intelligence, cognitive bias, and risk-taking behaviours. Therefore, incorporating these psychological and behavioural factors into project management practices can enhance project success in the construction industry.
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Keywords
emotional intelligence, cognitive bias, risk-taking behaviours, organisational risk culture, project management, project success, construction industry