The Research On The Public Project Governance Theory And The Performance Improvement Of The Agent Construction System In China

The reformation of public project management model in China is in process. To study some deeper levels such as public project institution and mechanism and to establish and improve public project governance structure and governance mechanism is one of the critical factors that involved in the deeper levels of reformation.Project governance is a kind of institutional arrangement about the responsibilities, rights and benefits that around those related stakeholders in the project. And the project governance can be separated into two parts as internal governance and external governance. Several critical problems to establish theory paradigm about public project governance are to a) re-realize project and make it analyzable; b) analyze the principal-agent relationship and its agent problem in the public project contract organization; c)establish governance structure and governance mechanism in the public project contract organization which has incomplete contract and agent problem; d)study the incentive mechanism about agent construction system for government investment project based on the project governance theory. The main contents to be study in relation to those problems above in the dissertation are listed below.â… . Analyze the base for the establishment of project governance theory. It includes: a) using the organization theory to analyze project, discuss the nature of public project contract and its relationship with market contract; b) discuss the principal-agent relationship between those stakeholders of the public project contractual organization and its different agent problems that based on the analyzable of project. At the same time, the dissertation discussed principal-agent relationship of the owner's market agency under the constraint of public property and some limitations of traditional analyzing tools for the principal-agent theory.â…¡. Establish the public project governance theory and discuss the public project governance structure and governance mechanism. It includes: a)project governance can be separated into two parts as internal governance and external governance. The internal governance is mainly focused on the optimization for governance structure formed by project property arrangement of project core stakeholders. The external governance is mainly focused on the establishment of external market competition mechanism; b) because of the particularity of public project principal-agent chain, the governance of public project should be the co-governance of stakeholders. And the great influence of governmental investor should be considered. Besides the problems discussed above, insufficient incentive and efficient supervise are existed government economical organization, so the governmental supervising mechanism for public project is an important external governance mechanism.â…¢. Evaluate the agent construction system governance level of nonprofit publicproject in China. Agent construction system is an important direction for the reformation of government investment project management model. The dissertation has established a set of evaluation index for project governance under agent-construction system based on the governance theory, and used AHP and fuzzy mathematics to evaluate several projects that using agent construction system. At the end of the dissertation, a case has been studied and the agent construction system performance improvement approach based on governance theory has been put forward.