The Study, Based On Transaction Cost Theory Of Project Governance Structure

Resent years, the study about Project Management Theory changes rapidly, and has more attention of peoples. However the traditional Project Management Theory focuses on the rules of the project itself, and study by the means of the optimization and systematization theory. But the school of project governance theory resort to the Transaction Cost Economics (next TCE for short) and the Agency Theory, study from the relationship of the owner, the contractor and the supervisor. This article analyses the project trade nature, and the relationship of the project trade and the governance structure. Then prove the conclusion about the governance structure of project trade as a case of harbor project.This article begins by describing the theoretical basis - TCE. Since Professor Coase in the "nature of the business" put forward the concept of transaction costs, the economists began to examine the content of the transaction, as well as the impact of different systems for the transaction. Transaction cost economics is one of the typical school, which through research and analysis of the integrated trading system and the relationship between trade and proposed governance structure of the transaction matching paradigm. This article of foreign words in this regard were combed to explain the meaning and definition of the transaction, trading in the assumption that the transaction dimensions, transaction costs and the different transaction management, Transactions so as to solve the project management provides a theoretical basis.Secondly, the project nature of the transaction carried out an analysis of the project to resolve problems in trade, we must first understand the nature of the transaction. Through the project is to describe the characteristics of the general area, as well as the base from the traditional contract law analysis of the project contract with the contract of sale, differences in employment contracts, as well as transaction cost economics theory analysis on the characteristics of transactions and the comparison. Projects come to a hybrid trading transactions are concluded, so as to further proposed governance structure was provided. The different nature of the transaction and the governance structure of the relationship between the analysis of mixed-mode structure in the role of project transactions. The final adoption of specific cases - a terminal project, the project transactions carried out with limited rationality and opportunism, an analysis of the project uncertainty, transaction frequency, asset specificity was analyzed, and the owner and contractor of the the cost of transactions carried out between the breakdown and description. According to transaction cost economics on the governance structure and transaction matching theory, through different governance structures to compare transaction costs were obtained for the conclusions of the tripartite governance structure.