Clearly identifying the critical success factors (CSFs) of construction projects and a good understanding of the interrelationships among CSFs will help project managers focus on the control of key factors and allow them to make reasonable resource allocations. To explore the interrelationships among CSFs, this research established a CSFs system by first identifying 62 CSFs of construction projects through a literature review, and then refining them to produce 46 CSFs by expert discussions. On the basis of the CSFs system, which consisted of three categories and ten subcategories, this study applied the structural equation model (SEM) to explore the interrelationships among the CSFs. One hundred twenty-four project data that were collected from a questionnaire survey were used to determine the hypothetical model. A detailed evaluation and modification was then performed to revise the model. On the basis of the revised model, which was verified through evaluating the goodness-of-fit (GOF) indexes, this paper makes a thorough discussion of the interrelationships among the CSFs. Interrelationships that were identified and verified in the model reveal the influence mechanism among these CSFs. For example, the factor “riot, revolution, and war” negatively influences the factor “price fluctuation of labor,” whereas the factor “price fluctuation of labor” negatively influences the factor “time expectation.” Therefore, “riot, revolution, and war” can positively influence “time expectation.” This indicates that if an owner’s time expectation is a determinant of the time performance of an emergency project, maintaining a stable political environment would be a critical control point for accomplishing the project. Thus, the interrelationships discovered in this paper will make it easier to take better control over CSFs and contribute to a project's success.