DETERMINATION OF THE MAIN RISK FACTORS INFLUENCING THE PROJECT SUCCESS: A SYSTEMATIC LITERATURE REVIEW

A substantial body of literature emphasizes the importance of understanding the risks associated with projects. These risks, inherent in every endeavor, can significantly impact project success. Therefore, this paper aims to determine which factors play the biggest role in finishing the projects successfully and without delay. We used a systematic literature review method PRISMA to identify more than 90 articles. Considering the continuous and fast-paced changes in the industry, only the latest state-of-the-art articles, published in the last three years, have been taken into consideration, to provide a novel insight into noteworthy elements determining projects’ success in the recent period. Multiple factors, such as the type of industry and research methodology were taken into consideration. The research has shown that the construction industry has the lead in researching risk factors influencing project success. Two major topics were identified as most studied in determining the risk associated with project success – determining the relationship between multiple factors during the project delivery and modeling systems to determine potential risks. The results given in this review paper can help future project managers consider some additional factors when making decisions and setting deadlines. Additionally, more research should be done to determine the potential factors that can increase the chances of project success in the future.