Research On The Relationship Between Engineering Project Governance Mechanism And Project Performance Based On The Stak-Eholder Theory

In recent years, along with the rapid development of economy, engineering projects in our country have developed in a high speed in terms of scale and standard. A large number of engineering projects propel national economic forward, however, there have been many shocking malignant accidents in the meantime which pose serious threat to of people's lives and property. The reason for the failure of these was the management problems in the project team, and more importantly, ill organization and coordination, project governance problems namely.Engineering projects are the aggregation of the formal contracts and relational contracts of stakeholders. Contractual governance and relational governance constitute two essential dimensions of governance mechanism of engineering projects, they complement and promote mutually. Based on stakeholder theory, combining transaction cost theory and principal-agent theory, and in the dimensions of contractual and relational governance, we elaborate the classifications and the characteristics of engineering projects'governance mechanism and analyze the selection of key stakeholders, the relationship between governance mechanism and project performance, and the differences among different governance mechanisms in the state of decision-making design in projects' life cycle, construction, and completion. We define the framework and the model and proposed 10 hypotheses by a lot research on literatures, and then use questionnaire and SPSS software to do empirical research for the results of theory analysis and research hypothesis.The empirical research shows that in the state of decision-making design, project owners, investors, survey and design units, consulting units, government departments are the 5 key stakeholders; contractors, project owners, supervision units, survey and design institutes, material suppliers, subcontractors are the 6 key stakeholders in the construction stage, and in the final acceptance stage, contractors, project owners, supervision units, survey and design units, government departments, operators are the 6 key stakeholders; engineering project governance mechanism in stakeholders' perspective can be divided into four classes: strong contract and relationship, strong contract but weak relationship, strong relationship but weak contract, weak contract and relationship; during the project life cycle, contractual governance and relational governance have a significant positive effect on the project performance, the both-strong type has the best project performance level, and in the stage of decision-making design stage and construction stage, project performance in the mechanism of strong contract but weak relationship has an advantage over the mechanism of strong relationship but weak contract, and it'll the opposite conclusion in the final acceptance phase of the project.