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 JEL Classification: H60, H61, M10, M11. Keywords: Effective project governance; project management risk; benefit management; top management support; project performance. Reference to this paper should be referred to as follows: Abdullah, F.C.B; Indiran, L; Krishnan, A; Pavithran, S.N. (2024). The Impact of Moderation Analysis Between Effective Project Governance and Project Performance Management in Malaysia’s Construction Industry, GATR-Global J. Bus. Soc. Sci. Review, 12(3), 114–124. https://doi.org/10.35609/gjbssr.2024.12.3(2)