Study On The Project Contractual Governance In PMC Of A Company

For nearly 30 years, the development of the theory of project management has became an emerging field of academic research. Since theory and methods of project management have been introduced in China, project management model has become the main management mode in the field of engineering construction in our country. And in construction projects, especially large and medium-sized project management, the existence of principal-agent relationship makes the project contractual governance being a very important position, which has the same status in the field of practical research including three major traditional objectives.Based on the relevant theory of PMC model, project management and contract management, this study took A real estate company as the research object, identified the current contract governance dilemma faced by A company, through analyzing the problems about contractual governance in this company, and then found the problems including:the risk monitoring is lack of foresight, unsystematic risk is difficult to identify, relationship with government is mishandled, and the effect of punishment is limited. On this basis, guided by the theory, this paper analyzed the potential reasons of such dilemma, and the reasons are summarized as four aspects:asymmetric process information and agent moral hazard, bounded rationality, the conflict between company strategic target and short-term interests of project team and the lack of flexibility in incomplete contract governance. Finally, this study put forward the improvement strategy of contractual governance for A company.This paper consists of five parts. Among them, the first chapter synoptically describes the research background, significance, content and methods. The second chapter, case body, described the background of the case and Dalian project company, and the contract signed by A company, and then analyzed contractual governance problems. By reviewing the theory of PMC model, project governance, contractual governance and incomplete contract, the third chapter analyzed the reasons causing the problems. The fourth chapter put forward improvement strategies on the basis of the theory.