Objective - The building sector is essential to Malaysia's economic expansion. Despite its significance, large construction companies usually experience delays and project failure, affecting 95% of homebuyers due to 580 delayed projects in 2022. By February 28, 2023, 581 projects had been reported as delayed.

Methodology/Technique - This study experimentally examines the relationship between effective project governance and project performance in 390 Malaysian construction companies, using a framework based on agency theory and assessed with partial least squares structured equation modeling.

Finding - Benefit management serves as a mediator between project performance and effective project governance, and top management support has a positive moderating influence.

Novelty - The study highlights the importance of preventive measures, enhancing team and project manager roles, and forming strategic alliances for improved project governance.

Type of Paper - Empirical

Keywords: Effective project governance; project management risk; benefit management; top management support; project performance.

JEL Classification: H60, H61, M10, M11.

URI: http://gatrenterprise.com/GATRJournals/GJBSSR/vol12.3_2.html

DOI: https://doi.org/10.35609/gjbssr.2024.12.3(2)

Pages 114–124