Research On The Moral Risk Of Owners In PMC Model

With the rapid development of China's social and economic level,construction projects are increasingly oriented toward large-scale construction,specialization of management teams,and structural design complications.The traditional project management model can no longer adapt to the development of the times.Under this circumstance,the internationally widely used PMC model was introduced into China.The PMC model,the project management contracting model,was developed on the basis of the owner's project management and was seen as an extension of the owner's project management.Since the PMC model is a typical principal-agent model,the owner cannot always supervise the behavior of the PMC contractor and can only observe the result of the PMC contractor's actions.Under this model,because the PMC contractor is in an information-dominant position and the owner is in a disadvantaged position,the owner is more likely to suffer heavy losses due to the occurrence of moral hazard.Therefore,this article studies how to avoid or reduce the moral hazard faced by the owner under the PMC model from the perspective of the owner.Firstly,based on the literature review both at home and abroad,this paper combs the contents of the PMC model and moral hazard,introduces the characteristics of the moral hazard under the PMC model and the consequences it generates,and analyzes the main causes of moral hazard,namely human For profitability,fortunes,information asymmetry,unclear responsibilities,inadequate supervision,and inadequate punishment,it lays a foundation for the important reasons for the subsequent generation of moral hazard.Secondly,this paper uses the DEMATEL-ANP model to solve the important causes of moral hazard,and implements control through the incentive model for important reasons.For the six main causes of moral hazard,this paper uses DEMATEL-ANP model to solve two important reasons,namely,chancefulness and information asymmetry.For the sake of chance and information asymmetry,this paper establishes incentive guidance model and incentive constraint model respectively to implement control.After a case study shows that the incentive model can effectively control the emergence of important reasons and reduce the moral hazard faced by owners.Finally,From the perspective of preventing the occurrence of moral hazard,the corresponding countermeasures are proposed,namely the establishment of an incentive guidance system,the establishment of an incentive and restraint system,the establishment of information transmission and sharing channels,the implementation of a professional licensing system,and the improvement of contracted service quality.Increase the prior supervision and post-punishment efforts.It is hoped that the proposed countermeasures can promote the healthy development of the PMC model and give full play to its unique advantages,so as to promote the development of the entire project management.