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

• Published in: Global journal of flexible systems management Vol. 22; no. 3; pp. 179 - 196
• Main Authors: Tiwari, Pankaj, Suresha, B
• Format: Journal Article
• Language: English
• Published: New Delhi Springer India 01.09.2021
• Subjects: Business and Management; Original Research; Project risk management; Financial Services; Project flexibility; Project innovativeness; Project performance; Business success; Project success
• ISSN: 0972-2696; 0974-0198
• DOI: 10.1007/s40171-021-00270-0

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.