Increasing competition triggered innovation and technology transfer to be the key drivers of success for companies. In this study, a construction company's success was indicated by its innovation and technology transfer performance defined with factors such as "perceived value", "project time and budget", "competitive advantage", "reputation", "productivity", "finance", "learning and development" and "customer satisfaction". Then, it was aimed to measure the effect of internal capabilities of a company such as "resources and capabilities", "project management competencies", and "strategic decisions" on success. In this context, Structural Equation Modelling method was used to analyse data collected from 52 construction companies and construct a model representing the interrelationships between the factors. According to the resulting model, it was found out that "project management competencies" have a direct relationship with "company innovation and technology transfer success" whereas, "Resources and Capabilities" and "Strategic Decisions" have both an indirect relationship with success through "project management competencies".