Change Acceleration Process model (CAP) emerged in early 90’s as a set of principles for accelerating change management efforts in organizations. Business Process Improvement (BPI) projects open avenues of opportunity and success for organizations in this highly competitive era. However, most of these projects fail due to lack of commitment, communication, scope creep and inadequate resources. This research attempts to study industry relevant factors most critical to success of a BPI Project in the highly competitive telecom sector. Modified Delphi technique employing a panel of telecom professionals was adopted in order to determine the critical success factors (CSFs) after a thorough review of the literature. Exploratory factor analysis was performed to map extracted factors to the five agents of change. Research outcome defines the relevant CSFs in terms of vision, skills, incentives, resources and action plan. A significant contribution of this research is an extended CAP model for implementation of BPI projects. Practical implications of this research are utilization of the proposed model for BPI project success.