Industry 4.0 technologies offer substantial opportunities for sustainable business transformation, yet organisations consistently struggle to translate technological in-vestments into successful project outcomes. This study investigates the inner workings the "black box” of Industry 4.0 project implementation by examining how project management practices, team competencies, and decision-making processes interact. Using a mixed-methods case study of a leading industrial automation company, in-cluding a survey of project team members (n=50) and interviews with project managers (n=5), The identification of recursive feedback loop: competency gaps directly cause decision failures, and poor decision processes subsequently widen those competency gaps. Conversely, structured decision reviews and transparent communication trans-form routine choices into competency-building opportunities. An Integrated Imple-mentation Model (IIM) was proposed that explains these dynamics and demonstrates that sustainability outcomes, like resource efficiency, waste reduction, and circular economy practices emerge naturally when organisations manage processes, people, and decisions together. For practitioners, the core message is that every Industry 4.0 project should be treated as an opportunity to build long-term organisational learning capacity, not merely as a technology installation. This study provides both a theoretical framework for understanding implementation dynamics and actionable guidance for sustainable digital transformation.