Currently, the Ethiopian construction industry consumes much of the national capital budget, apart from the job it creates in the construction sector. The industry also provides ample opportunities for growth and employment to other manufacturing sectors. It involves carrying out a combination of events, activates and interactions with changing participants and processes in a rapidly changing environment. Prior research studies show that despite the sectors’ high importance to a nation’s socio-economic activity, several challenges have been noted in the industry that requires immediate action. Financial problems, improper planning, construction delay, design changes, availability of materials and equipment supply by contractors, incomplete design are some of the main sources of the problem. The complexity associated with the implementation of a project is bound to increase due to the changing government regulations and unstable national economies, which produces an environment of dynamic uncertainties. Thus, identifying the critical success factors (CSFs) of construction projects and a good understanding of the interrelationships among CSFs were crucial to help project managers focus on the control of key elements and allow them to make reasonable resource allocations. The objectives of this study were to specify and rank the potential CSFs in construction projects; compare and contrast the CSFs among stakeholders; and explore the interrelationships among them. This research established the CSFs system by first identifying 65 CSFs of construction projects through literature review and then refining list to 28 CSFs based on expert discussions. The 28 identified CSFs were, categorized into six groups and analytic hierarchy process (AHP) was applied to explore the interrelationships among the CSFs. Data from 31 professionals in Bahir Dar area were collected through a questionnaire for analysis. Results reported that contractor related factors are more critical in terms of ranking; contractor past experience under this category is the most critical, followed by schedule updates. Client-related factor whereby clients ability to make timely decision followed by close monitoring and continuous feedback, economic environment, adequacy of plans and specifications, project cost estimate, material and equipment, health and safety conditions and clear and precise goals/objectives are crucial.