Power Grid Construction Project Stakeholder Governance Mechanism

Stakeholders in co-governance theory to improve the development of our corporate governance mechanism have important guiding significance. In this paper, power grid construction project governance mechanism as a study object to explore the power grid construction project which is based on multi-stakeholder co-management Mechanism.As the natural monopoly business property and the public good properties of the power , a long time, traditional project management are mostly concerned about the feasibility study or simply rely on the construction project management techniques to win the market, while pay insufficient attention to the economic problems reflected by grid construction projects.This competition model hasn't adopted to the needs of market economic development, and project management faces a series of new contradictions and problems. Mainly to the multi-stakeholder who put a variety of specialized assets into the power grid projects demanded to participate in project governance; multi-stakeholder conflict of interest; uncertainty under the coordination of the project stakeholders and other incentives and constraints. Meanwhile, the deepening of management and reform of China's power grid enterprise project and realization of its effectiveness , in the final analysis, is a issue of Governance Selection and Mechanism construction on power grid construction project.Therefore, to explore the nature of these problems and how to resolve these conflicts become the main attempt of this article and research significance.Firstly, domestic and international project management through the development of management studies were extensively literature reviewed ,and sort out the governance of the project's history, key elements, trends, identifying existing shortcomings of previous studies. Based on principal-agent theory, stakeholder theory, explained the main contents, the basic approach and innovation of this paper.Then, through the critical review of ownership of the project contract theory and logical deduction, the project is regarded as a temporary multilateral organizations of property rights contract which is not entire. On this basis, that defines the content of the governance mechanism for grid construction projects, and illustrate theoretically the main content of grid construction project governance mechanism.This project starts from the view of "from all stakeholders between a series of temporary contracts", thinking that this is a group of subject construction unit, including the design, construction, government, community and residents in such diverse interests related. Then, the diversification benefits related subject abstract for rational agent, found their interests and conflicts having the request differences. Since there had a conflict of interest, then we should design a mechanism for coordinating and eliminating these conflicts, conflicting with cooperation. The paper believes grid construction projects as a kind of wealth creation and distribution of the effective mechanism, relying more on the main interest is the cooperation between behavior interests. Project management is the constant innovation of mechanism of marginal adjustment, property projects multiply interests balance of interests related to subject, so as to realize the goal of the project.Under conditions of high uncertainty of the competitive market environment, what we can do to resolve conflicts of the project through the establishment of the main multi-stakeholder co-operation mechanism? Firstly, based on the analysis the game mechanism within stakeholders with each other of in the power grid construction projects, then established the three main game models within the project stakeholder, Secondly, explores their game relationship through the game mixed strategy Nash equilibrium solution, Thirdly ,it explains the operability of the multi-stakeholder model of cooperative games under the uncertain environment .According to the asymmetric information of Power grid construction projects and the principal-agent theory, from the principal (grid companies) and agent'(contractor or supervision unit) conflicts of interest between each other, a model for the Prevention of Moral Hazard was established The dissertation sets up the model of preventing moral hazard which was based on the principal-agent theory. It builds the optimization incentive and monitoring model under the circumstance of asymmetric information to prevent moral hazard and explores the effects of incentive and monitoring mechanisms in the principal-agent relationship of Power grid construction projects.Power grid construction projects on the external stakeholders of benefit-sharing . Paper discusses the condition of complete information of the electric power company, grassroots organizations, local residents compensation mechanism of trilateral cooperation game. On this basis, Focusing on the behavioral characteristics of bargaining negotiations of the stakeholders of the external environment power grid construction and basing on a simple stakeholders ,the thesis constructs a compensation mechanism models about the power grid companies, grass-roots organizations and local residents. Analyze the kinds of mechanism through the simulation methods of Swarm, and verified the effectiveness of conflict in coordination compensation mechanism.Aim to design effective compensation mechanism for managers to safeguard interests of all parties, reduce the external conflicts, build a harmonious external environment of constructing power grids, and speed up construction of power grids to provide a scientific basis for further planning and decision support.Finally, by analyzing the development process and effect of current situation of the enterprise project management of China's power grid, the paper explores the establishment and improvement of multi-stakeholder based on a common new model of governance, and gives some suggestions such as strengthening the system, establishing incentive and restraint mechanisms, strengthening power grid construction market credit-building, and improving market mechanism..