Research Of Estate Project Governance Factor Based On Transaction Cost Theory

In the current market economy system, China’s real estate project which is based on traditional project management model exist very common. The presences of a large number of transaction costs in traditional project management make the operational efficiency of real estate projects low. The existing project management system must be anglicized in order to identify factors that transaction costs, through effective system to protect and optimize every aspect of the process, so as to improving the efficiency of real estate projects.In this paper, the governance structure of our real estate projects is discussed by the transaction cost theory, First and foremost, the three dimensions of transaction costs including asset specificity, uncertainty, and transaction frequency in real estate projects are discussed here, as well as the transaction costs may exist in the project runtime of real estate projects and the main factors affecting the real estate projects in transaction costs; Secondly, By AHP weights above factors were analyzed here, and important factors affecting the transaction costs of real estate projects are also be extracted. Finally, measures which based on optimizing the management mechanism are proposed for controlling the important factors, so that transaction costs can be effectively reduced and project efficiency can be improved, as well as the maximize of overall benefits of the project.