Research On Performance Impact Of EPC Project Management Based On Relationship Governance

In the context of the continuous implementation of large-scale construction projects and the increasing investment in construction projects,EPC mode has become the mainstream mode in the field of modern project management because of its highly integrated management,high speed and low cost.However,in the actual implementation process of EPC projects,there is often a phenomenon that the governance level of the project does not match the management performance,which has a negative impact on the management performance of EPC projects.Relational governance,an informal governance mechanism,can explain the phenomenon that the project governance level is contrary to the EPC project management performance in actual projects,thus improving the project management performance level.Therefore,it is of great significance to explore the relationship between the informal governance mechanism between the wowner and the contractor and the performance of EPC project management.From the perspective of relationship governance between the owner and the contractor,this paper combs and analyzes the existing related research by literature review,and screens and determines the core elements of relationship governance;Through literature review,the primary indicators of EPC project management performance are selected,and then the KPI method based on CSF is used to determine the performance indicators of EPC project management,and the performance of EPC project management is described from three aspects: economy,effectiveness and efficiency,and the index system is constructed;This paper introduces industry convention as a factor to solve uncertain risks in construction projects,and analyzes the regulatory role of industry convention between relationship norms and relationship behaviors;A theoretical model between the core elements of relationship governance between owners and contractors and EPC project management performance is established by using transaction cost theory,principal-agent theory and social exchange theory,and the theoretical model is analyzed by descriptive statistics,reliability and validity test and hypothesis test by using empirical analysis methods.Through qualitative theoretical model and quantitative structural equation model,this paper empirically analyzes the influence mechanism of relationship governance between owners and contractors and EPC project management performance.The empirical results show that trust,communication,commitment and cooperation have a positive impact on EPC project management performance,and there is also a significant relationship among the core elements of relationship governance.There is a significant intermediary effect between the relationship between the relationship between the cooperation and the performance of the EPC project;and the partial coordination role of industry practices between relationship norms and relationship behaviors has also been confirmed.Through discussions on the results of empirical research,targeted proposal to promote the performance of the EPC project management performance to promote the successful implementation of the project.The research conclusion improves the theoretical system of project governance to a certain extent,and provides a theoretical basis for improving project management performance from the perspective of relationship governance.