Empirical Research On Influencing Factors Of Performance In Construction Projects Based On Stakeholder Theory

Project is a sort of temporary contract in nature, it is an organic integrity formed by a combination of investor, owner, contractor, government, financial institution, community, etc. In traditional theory, whether it can meet the demands of index of time, cost and quality is the criterion to judge project performance. But a mass of incontrollable and failing projects proves that managing project performance only by time, cost and quality wouldn’t be so effective, which is because there’re so many stakeholders involved in project construction whose interest relations are complicated but have an increasingly influence on project performance, participation and support of stakeholders shall be the key to improve project performance, coordinating stakeholders’relations successfully means that the project is operated in a normal and right way. Therefore, it’s of great importance to study the influencing factors of performance in construction projects and analyze relations between the factors and construction project performance from stakeholder perspective.First, this paper conducts a deep research on the criterion of performance evaluation in construction projects, confirms the importance and the effect of traditional "iron triangle" standard, takes stakeholders’ satisfaction as one criterion of weighing project performance, and build evaluation indicators of construction project performance from two angles of project target and stakeholder satisfaction according to project task in different stages and difference of demands among stakeholders. Second, this paper identifies influencing factors of performance in different stages of project construction cycle and confirms them from two dimensionalities of stakeholder behavioral risk and their governance level based on analysis of two theories including stakeholder behavioral risk and governance. Last, by questionnaire survey, using Pearson correlation test to make empirical research on influential factors of project performance with SPSS software, with study on their relation correlation, the empirical results prove that stakeholder behavioral risk and governance level have an obvious influence on project performance in different stages of project construction cycle, this paper makes specific analysis on these factors and puts forward relevant measures and advices in accordance with results from these analysis.Combing with governance theory of stakeholder perspective, this study build an index system of project performance from five indexes of project preparation task, project organization task, project acceptance task and stakeholder satisfaction. And a conclusion is drew by empirical analysis on the influential factors of project performance that in different stages of the project, key influential factors of project objectives implementation are project approval, cooperative intentions, community residents, reputation degree of stakeholders, organization structure design, right assignment, execution degree, punishment mechanism and acceptance attitude; and key influential factors of stakeholder satisfaction are disciplinary of project objectives, organization structure design, right assignment, communication mechanism, and benefit distribution. It offers managers reference and basis to manage project with side important place by identifying these factors which helps stakeholders reconcile interest conflicts among stakeholders effectively to ensure that the project is on the right way, in which way the management level could be improved.