Empirical Study Of Key Successful Factors Of BT Projects

In order to alleviate the financial pressure on the current urbanized construction,many local governments take the Build-Transfer (BT) mode for public construction, tospeed up the people’s livelihood improvement and promote local economic development.Although the BT mode has been used widely, due to various reasons, many BT projectshaven’t been succeeded ultimately. So which factors can affect the success of the BTproject, and how to manage these factors, are the current problem to be solved and thefocus of this paper.This these first reviewed the literature and combining with the author’s experiencesof the BT project management for many years, to sum up the process and content of theBT project. And combined with the BT project successful criteria, the author summarizefactors which is critically to the success of the BT project, then adopts the method ofquestionnaire survey to confirm preliminary list key successful factors. These factorsinclude owner good conditions, mature market, normative contract， effectiveconstruction management, enough construction funds, qualified level of construction,etc.When the key successful factors is identified, the importance of the key successfulfactors are investigated by using the questionnaire. The most important factors, in turn,include “strong financing ability of the tendering units”,“feasible project financingscheme”,“repo funds paid in time”,“enough construction fund”,“the appropriateallocation of resources”, etc. Then the importance of the key successful factors ofinvestigation has been analysised, in-depth and overall, according to different job rolesof investigation, the difference of opinion between the owner and the implementingparty include “full inspection before the bid”,“repurchase payment way acceptable toboth sides”，“duly paid repo funds”,“enough construction fund”,“enough Budget of theowner”, clear the liability for breach of contract, etc.Then, the management measures on the key successful factors of BT project havebeen discussed in detail. The key successful factors and the successful criteria of BTproject be corresponded, which are used to analysis the effect of the key successfulfactors influence on project. For example,“the construction ability”,“reasonable default processing”,“effective communication and cooperation of participants” and “highquality team” have made a marked impact on project quality;“the available tenderdocuments”,“clear pricing way”,“qualified tracking audit” and “fair settlement audit”have made a marked impact on the project cost, which are needed to be focused on.Finally, the author analysis the actual management of these key successful factorsand results on several BT project cases, sum up the relationship between the results andthe key successful factors management, further verify the feasibility and effectiveness ofthe management measures under BT project key successful factors.