Effective stakeholder involvement variables and the successful execution of capital projects: An empirical study within the governance context

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Abstract

Capital projects are essential in boosting the country’s economy (Naidoo & Chetty, 2023). Dean (2024) further emphasizes that capital projects hold long-run high value. The purpose of this research paper is to illustrate through literature and findings that effective stakeholder involvement variables, such as power and urgency, are significant for the successful execution of capital projects. The study utilised a quantitative approach for the collection of data, and an in-depth literature review was conducted. The study had 56 respondents from the Cape Region, and varying statistical methods were utilised in the analysis. The study concluded with recommendations that capital project constituents can utilise to achieve the successful execution of capital projects. The key findings pertaining to the variable power outlined that power is indeed key to enabling project success. Moreover, the participants in the operations department gave the highest rating for the two types of power. This further alludes to the recognition of power as a key variable for projects meeting their strategic intent. With regard to urgency as a variable, the key findings show that the participants in the operations department rated urgency the highest. Detailing that the level of urgency and the quickness to respond to project developments is a good measure for project success.

Keywords: Capital Projects, Capital Investment, Factor Analysis, Stakeholder Management, Project Success

Authors’ individual contribution: Conceptualization — J.T.; Software — J.T.; Validation — J.T.; Formal Analysis — S.M.; Investigation — J.T.; Resources — S.M.; Data Curation — J.T.; Writing — Original Draft — S.M.; Visualization — S.M.; Supervision — S.M.; Project Administration — S.M.; Funding Acquisition — S.M.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: F63, H00, H11, H12

Received: 06.06.2024
Revised: 08.10.2024; 21.01.2025; 28.07.2025
Accepted: 15.08.2025
Published online: 19.08.2025

How to cite this paper: Tefu, J., & Mpanza, S. (2025). Effective stakeholder involvement variables and the successful execution of capital projects: An empirical study within the governance context. Journal of Governance & Regulation, 14(3), 148–160. https://doi.org/10.22495/jgrv14i3art14