Identification Of Real Estate Knowledge Process Project Maturity Factors And The Impact On Project Performance

The real estate industry is a highly integrated industry and an important hub forthe national economy. For a long time, real estate companies produce everfountprofits only relying on economic capital because of the contradiction between supplyand demand. In the background of the control policy, it will be more and moredifficult for the real estate industry to hold the dominant position with the economiccapital only. It must pay more attention to the reform of the management system andaccomplish the transition from the production type to business type.The real estate knowledge process project has brought great difficulty to theproject management because of its innovativeness and irreplicability. This paperattempts to propose the first complete definition of real estate knowledge processproject, which is a one-time task that knowledge workers creatively deliverknowledge products through their expertise and information, including investmentprojects, planning and design projects, management consulting projects, marketingprojects and creative advertising projects.This paper takes the project management maturity model and projectperformance measurement framework as the basic theoretical foundation.It uses thegrounded theory and mathematical statistics analysis method to explore therelationship between maturity factors and project performance. The subjects aretypical knowledge workers in Hangzhou,such as the workers in ministry of the realestate business investment decisions, real estate project planning and design units, realestate project consulting companies, real estate marketing planning, real estateadvertising company and so on.In grounded theory, considering it needs some time to obtain work cognitive, thewriter chooses the interviewer whose work experiences not less tow years.Then thewriter launched a large sample survey of320questionnaires, real hair to recover300,250valid questionnaires, the effective rate of83.33%questionnaires, thequestionnaire data using SPSS11.5to analysis.The final conclusions are as follows:1.This paper identified three dimensions and seventeen factors in the referencewith the project management maturity model at home and abroad. This classification provides the theoretical framework for managers as guidelines to improve projectmanagement maturity and project performance level.2. The factor analysis shows that real estate knowledge process project maturityfactors include eight dimensions, respectively, process agile dimension, organizationalchange tolerance dimension, management convenience dimension, executives’support and organizational cultural dimension, pre-project dimension, projectimplementation dimension, project closeout dimension, staff maturity dimension.Project performance includes three dimensions, namely, short-term performance,learning and innovation performance and stakeholder performance.3. In the light of descriptive statistics, the top ten maturity factors concluded onthe basis of Grounded Theory are: the ability to solve problems creatively, the abilityto analyze project needs, team building ability, ability to research project feasibility,project risk planning ability, team efficiency, experience file management capabilities,the ability to respond to customer/market demand change, the attitude towardscooperation, the ability to control schedule, quality and cost.4.The independent sample T test and single factor variance analysis show thatdifference in gender, work experience and project types rather than qualifications，duties, team size, the nature of the enterprise result in significant effect on maturityfactors and project performance.5. The regression analysis shows that executives’ support and organizationalculture, pre-project, staff maturity, project implementation and organizational changetolerance have a significant positive correlation to the short-term performance; projectcloseout, executives’ support and organizational culture, management convenienceand staff maturity have a significant positive correlation to the learning andinnovation performance; while process agile, pre-project and managementconvenience have a significant positive correlation to the stakeholder performance.According to the above conclusions, this paper provides some suggestions topromote the performance of knowledge process project in three aspects, that is,short-term performance, learning and innovation performance and stakeholderperformance.