Re-Examining the Determinants of Project Performance: A Multi-Method Analysis of Cost, Schedule, and Risk Outcomes in Small and Medium Enterprises

Abstract

Project performance is a critical determinant of organizational efficiency, competitiveness, and sustainability, especially within Small and Medium Enterprises (SMEs), which face unique resource constraints and operational challenges. Despite extensive research in project management, there is limited understanding of the determinants of project performance across cost, schedule, and risk dimensions in SMEs, where informal practices and limited resources often hinder systematic performance evaluation. This study employs a multi-method research design, integrating quantitative survey analysis with qualitative interviews, to provide a holistic examination of project performance determinants. Data were collected from 412 project managers and team members across SMEs operating in manufacturing, information technology, and service industries. Quantitative analyses, including regression modeling and structural equation modeling (SEM), assessed the relationships between project planning, stakeholder engagement, resource allocation, risk management practices, leadership, and organizational culture with project performance. Complementary qualitative interviews provided in-depth insights into organizational behaviors, decision-making processes, and cultural factors that influence cost efficiency, schedule adherence, and risk mitigation. Findings reveal that effective risk management, detailed project planning, and strategic resource allocation are significant predictors of project success, whereas poor communication, inadequate stakeholder involvement, and deficient cost estimation adversely affect outcomes. The study contributes to both theory and practice by proposing a comprehensive framework for improving project performance in SMEs, emphasizing the importance of integrated management practices, leadership development, and a proactive risk culture. Implications highlight actionable recommendations for managers to optimize project outcomes, mitigate risks, and enhance competitive advantage in resource-constrained environments. Overall, this research bridges the gap between theory and practice, offering a robust foundation for future research and managerial interventions in SME project management contexts.