Conflict Management Of The Stakeholders In BOT Project

BOT financing mode application has been very extensive, but because of large project funds demand is big, project cycle is long, risk more is higher, and the characteristic of need a lot of units division and cooperation, to the interests of the parties involved in the distribution, project participants in project operation will produce all kinds of conflict, it is to bring all kinds of difficult project implementation, affect the project schedule, quality and lead to the failure of the project.BOT financing model as the background, through to the BOT project financing operation process analysis, in real operation BOT project stakeholders of the relationship between the contract, this paper analyses the contract system BOT project stakeholders of the principal-agent relationship, and summarizes BOT project operation that each stage conflicts of interest between stakeholders. This article mainly aims at project stakeholders in the bidding, the concession period sure, project financing and construction mainly analyzes several stages, get the following conclusions:(1) the government always hope a operation management level high private group to complete the project, so private group usually through the lies about her private information to get project the franchise. The government and private group in order to realize its own interests, bidding on the understanding of the contract formation of the conflicts of interest;(2) the right of management time limit the length of the section definition of the government and directly related to the project company interest distribution, the government and the project company in the concession period in the stipulation of in order to strive for more interests will form the conflict of interest;(3) equity funds more, project risk and return of the company is less, the project companies don’t want to accept; And equity less funds, credit risk is bigger, lenders would not accept;(4) the actual project construction period not only depend on the contractor construction efficiency, but also the external environment of the project construction and relevant, so when the construction efficiency not observation, the contractor will choose a beneficial to their own benefit maximization construction level, and will project period of project construction delays blamed on the external conditions, and other factors.This paper comprehensive use stakeholders.contract, information economics, project management and project finance theory and method, analyses the process of BOT project financing and studies the contract system of BOT project. Finally we analyses the conflicts may be related between stakeholders in the process of practical operation in BOT project.