The Similarity Study Between Government's Investment & Financing Management Models And Construction Management Models

Since the subjects of government investment projects tend to be diverse,the investment and financing management will exist with models such as government's direct investment, BOT and PPP, etc.Non-governmental investment and financing will be further expanded.In which ways that the government chooses a suitable investment and financing models,and guarantee the coordination between construction management models and investment and financing models during the process of construction are related to the effect of government's investment.Based on the above background and the research at home and abroad,and combine with the real situation of government projects'constructions,the process from project financing to construction is studied in this paper. The main works are summarized as follows:(1)According to the theory of project distinction.the government projects are divided into commercial projects,non-operating projects and quasi-business projects. The qualitative model of government projects are proposed. The subjects of investment and financing are determined based on the project's operating conditions. The characteristic of each financing model is analyzed systematically and compared. According to the factors that government considered in choosing a financing model, the way that government choose a rational model are proposed.(2)After the financing mode's determination, the choices of financing options are much crucial,because they are directly related to the success of the financing. The financing options are the process that tries to choose the lower cost of capital lower risky financing program which is the financing capital structure's rationality problem,The uncertainty of the expected return to the qualitative assessment of the risks of financing in this paper, through establishing the E-σcurve,determined the best financing capital structure.(3)The typical operation mechanism and the process such as BOT, PPP, BT and agent program are analyzed in detailed in this paper. Four construction management models,DB,DBB,EPC and CM,are also analyzed in detailed and their operational mechanics and weaknesses are presented.They are compared from seven aspects such as quality,progress and property owners.The types of items which they apply are analyzed qualitatively. (4)The government's management objectives are determined according to the evaluation of government projects.From the characteristics,requirements of owners and management, and according to the "three control, two management, a coordination"of the asked to identify indicators,using the fuzzy nearness to build a fuzzy close-degree model,the problem that the adaptability between investment and financing mode and construction management is also evaluated in this paper. The case is evaluated using this method combination with project cases,and the design-construction mode which is fit to the project mostly is developed.