The research examined how corporate entrepreneurship and environmental competitiveness affect the success of projects that employ ambidexterity innovation strategies. Additionally, it investigated how balancing exploitative and explorative innovation strategies affected project performance under different levels of environmental competitiveness. A survey questionnaire collected data from 200 managers in charge of both functional and cross-functional project teams across various industries in Thailand. Findings indicated that corporate entrepreneurship within the project team positively influenced both exploitative and explorative innovations, mediating their relationship with project performance. Environmental competitiveness moderated these relationships, with high competitiveness amplifying the impact of explorative innovation and diminishing that of exploitative innovation. The results highlighted the necessity for organizations to evaluate environmental competitiveness and balance both strategies. According to organizational ambidexterity theory, this strategy is essential for maintaining long-term performance. Finally, this research guided managers in fostering a culture supporting both innovation types and aligning strategies with the competitive business environment. Future research should investigate these dynamics longitudinally and across various industries to enhance generalizability.

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