As remote work gains popularity due to the rise of virtual communication tools post the COVID 19 pandemic, understanding its impact on project management is crucial. This dissertation investigates the moderating effect of virtual communication on the relationship between project risks and performance. The study presents robust evidence that virtuality significantly and negatively moderates the influence of organizational risks on performance. These findings offer valuable insights into the complexities of virtual project environments, underscoring the need for strategic virtual engagement in managing project risks to avoid performance detriments. The research enhances project management literature by highlighting the critical need for adept project managers to navigate the complexities of virtual and risk-prone environments effectively.