A Study on Effectual Decision Making of Construction Projects in Islamabad, Pakistan: Analyzing the Influence of Risk-Taking Behavior, Leadership Skills, and Business Case Implementation.

Abstract

The purpose of this study is to examine various aspects which include business case implementation, risk-taking behavior and leadership skills impacts on construction sector of Islamabad, Pakistan. A questionnaire was prepared for the targeted construction firms. Sample size used for analysis was 215. On receipt of the data, a comparative analysis is done by using SPSS software to choose the better options. The better option from business case implementation and the leadership skill have been instrumental in the decision making while risk-taking behavior will have no effect on it. Approaches to the Project management are becoming flexible and more adoptive to compete with the challenges arising out of rapidly change environment and complex projects. However, consideration for the possible potential changes regarding decision making in projects is very rare and less discovered. The Effectual decision making approach in the construction industry has rapidly been growing. It seems that gradually the effectuation approach would replace the traditional methods that have long been in the usage. Keywords: Effectual Decision Making, Risk-Taking Behavior, Business Case Implementation, Leadership Skills, Construction Industry.