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This paper provides valuable information about the effectiveness of Project Management Body Of Knowledge (PMBOK) by evaluating performance of knowledge practice in the Taiwan construction industry. The surveys are analyzed by structural equation modeling to test the relationship between PMBOK techniques/tools/skills (TTS) and project success (PS). Importance-performance analysis (IPA) is presented to determine the priority of PMBOK TTS and the indicators that influence PS. The IPA can help construction practitioners to implement effective managerial strategies, enhance project performance, and improve the efficiency of the use of management resources, thus promoting project success. This empirical study reveals that construction practitioners can develop management knowledge to increase the likelihood of project success based on the identified important TTS and their perceived performance.