Title: The road to project success: the role of risk awareness and risk management in managing overconfidence among project managers
Authors: Iqra Nawaz; Muhammad Arslan
Addresses: Faculty of Management Sciences, Capital University of Science and Technology, Islamabad, Pakistan ' Faculty of Management Sciences, Capital University of Science and Technology, Islamabad, Pakistan
Abstract: This study investigates the direct relationship between risk management and project success with the mediating role of risk awareness on that direct relationship; and the moderating role of manager's overconfidence on that mediating relationship. The study used multiple regression and mediation-moderation analyses on close-ended questionnaire data from a sample of project managers in the education industry. Results suggests that project managers can expect higher chances of project success when they are able to manage risk effectively, as evidenced by the significantly positive relationship between risk management and project success. Managers must have good risk awareness, as evidence by the effect of risk awareness as a significant mediator that strengthens the relationship between risk management and project success and managers must manage their confidence, as evidence by the effect of manager's overconfidence behavior as a significant moderator that weakens the mediation relationship between risk awareness, risk management and project success.
Keywords: project success; risk management; risk awareness; manager's overconfidence behaviour.
International Journal of Quality and Innovation, 2020 Vol.5 No.1, pp.62 - 75
Received: 13 May 2020
Accepted: 29 Aug 2020
Published online: 12 Jan 2021 *