Research On Critical Success Factors Of PPP Project Based On SEM

Under the new economic norm,system transformation,structure optimization and upgrade elements is a new power China economic development.PPP mode can promote the transformation of government functions,is the effective way to play the market resource allocation effect.Our local debt situation is grim,infrastructure construction of the huge funding gap.The rapid development of social capital has laid the foundation for its participation in infrastructure construction.It is self-evident importance of using the PPP project,the introduction of social capital in the development of infrastructure,but not every PPP project can operate successfully,whether to adopt PPP,how to ensure the success of PPP projects is the key problem to be solved.The PPP project involves a wide range,long duration,there are many factors affecting the successful implementation,such as the legal system is not perfect,lack of the spirit of the contract of project management,low efficiency,low information transparency,risk sharing mechanism is not reasonable,public opposition,serious government intervention,professional institutions and lack of talents.These factors in the process of successful operation of PPP projects,there is some interaction,some factors such as the role of other factors and the change of amplification,eventually to PPP the successful implementation of the project has brought tremendous impact,if we can find the key success factors,it can be as much as possible to avoid the failure of PPP projects.Based on this,by using PPP theory and structural equation model research of PPP project success factors in China's implementation,and the key success factors it is necessary to make relevant recommendations,not only can effectively answer influence the success of PPP project is the key factor of the problem in practice,can also contribute to the relevant government departments and enterprise management personnel with their own characteristics selectively participate to achieve their goal of the PPP project.Firstly,through the literature collection classification and then summarize research status of PPP project in China,analyzes the connotation of PPP,PPP project,PPP system combing the project management theory,such as the theory of stakeholder theory,key success factors,government failure theory,the theoretical basis for further study.To identify the influence factors of common methods are analyzed,by literature research method and case analysis method is suitable for the paper,and summarizes the 33 factors influencing the use of literature research and case analysis,and five aspects of technology and management,economic,social,political and legal,credit based on the list of success factors PPP the implementation of the project establishment.Secondly,the structural equation model,structural equation model analysis used in the paper,according to the PPP theory,hypothesis of factors and effects of PPP project on the five levels of the successful implementation of the successful construction of a theoretical model of PPP project implementation.Again,based on the list of success factors,combined with the research objective to explore the relationship and regularity between the success factors,according to the list of success factors for the design of the questionnaire,through the pre-survey questionnaire for correction,and then the formal questionnaire.With the help of SPSS22.0 analysis reliability and validity of the questionnaire data collected were analyzed to verify the reliability and rationality.Use AMOS22.0 to get results through structural equation model fitting and model evaluation and model updating of standard research order.According to the comprehensive index successfully screened,key success factors.Finally,according to the results of the structural equation model of the output level of six success factors: financing ability,perfect legal system,risk sharing mechanism,personnel training,project pricing mechanism,project supervision mechanism were put forward to promote China's PPP project successful implementation of the relevant recommendations.From the PPP project identification,preparation,procurement,implementation,over the whole life cycle,its successful implementation involves six categories of factors,and the relationship between the various factors are very complex,can be studied from the perspective of system.Methods the follow-up will try to use more scientific and more successful factors of the comprehensive identification of PPP project implementation,continue to expand the breadth and depth of data collection,detailed study of the logical relationship between the factors of success,the key success factors put forward more detailed policy recommendations.In order to further provide reference and guidance for the successful implementation of PPP projects in china.