This study examines the effectiveness of digital simulation-based training (DSBT) for acquiring complex knowledge and skills. After identifying key aspects of DSBT, it explains how they were used to design a new DSBT activity with Minecraft Education® for teaching agile project management to dispersed students. It then presents a theoretically grounded model that links these key aspects of DSBT to learning perceptions. The model was tested over a 3-year period through an online survey administered to groups of students who had participated in the new DSBT activity in a project management course. The findings show that two learning-related beliefs, involvement and enjoyment, are crucial to the success of DSBT, and they offer valuable insights into the acquisition of these beliefs. The findings should be useful to educators and human resource professionals interested in integrating DSBT into their teaching and training practices.