Project Coordinated Management By Objectives And Institution Design

ABSTRACT:Due to information asymmetry, the conflicting objectives of different stakeholders’ interests, multi-objective decision making and different target in planning, resource allocation and other issues will result in different views, the goal conflict between the parties is inevitable, the coordination management by objectives come into being. Application of theories should apply into practice, as well as how to imply the coordination management by objectives efficiently into project management challenges facing managers. From the perspective of construction projects, according to theories of coordinated management of construction projects and new institutional economics, this paper tries to put forward a concept of coordinated management institution by objectives, discusses the intrinsic relationship between coordinated management institution by objectives and coordinated management by objectives, analyzes the role of coordinated management institution by objectives in the implementation of coordinated management by objectives. The purpose of it is to guide coordinated management by objectives to be implemented efficiently.First of all, according to the theory of coordinated management by objectives, the paper points out that the inevitable conflicts among the stakeholders. Then by analyzing the relationship between institution and the conflicts, it concludes that an unreasonable institution is a major source of goal conflict and the institution is an important mechanism of adjusting relations, thus it puts forward the concept of coordinated management institution by objectives and studies its characteristics, content and forms.Secondly, after analysis on the function of coordinated management institution by objectives, it then analyzes influences the coordinated management institution by objectives have on the implementation and efficiency of coordinated management by objectives. Analysis result show that the realization of the coordinated management by objectives depends on the institution, the failure of coordinated management by objectives failure arise from the failure of institution. To conclude, coordinated management institution by objectives should be designed.Once more, the article tentatively design coordinated management by objectives institution, including the institutional arrangements for project quality management, institutional arrangements for project cost management, institutional arrangements for project schedule management, institutional arrangements for project safety management, institutional arrangements for project environment management, institutional arrangements for project sustainable development management.Finally, based on the background of ZH Expressway, the paper points out remaining issues and table a proposal to improve coordinated management by objectives.