Research On Critical Management Elements Of Sino-foreign Joint Venture In Overseas Projects

Overseas engineering construction projects especially infrastructure projects are constantly becoming large-scale,technologically complex,specialized division of labor,and general contracting,and a contractor is generally unable to perform all construction tasks;at the same time,due to protect local companies the governments often require foreign contractors to form joint venture with local contractors to bid.In order to comply with the transforming trend of the overseas engineering contracting market,the demand for cooperation between Chinese engineering contractors and foreign contractors has been continuously increasing,and a large number of engineering projects contracted in the Sino-foreign joint venture(JV)model have emerged.The Sino-foreign JV model has become an important contracting mode to open the local market for Chinese contractors.However,the Sino-foreign JV has the characteristics of complex internal organization,difficult communication and uncontrollable factors,which makes the implementation results of the Sino-foreign JV projects becomes not satisfactory.Therefore,how to control the critical management elements in the operation of Sino-foreign JV is crucial to improve the probability of success of the JV construction project.This thesis firstly combs the research actuality,and analyzes related literatures and cases of Sino-foreign JV in overseas construction combining the characteristics of Sino-foreign JV and identification principles of elements,then obtains a list of preliminary management elements of Sino-foreign JV in overseas construction.Then combining the results of expert interviews the list of preliminary management elements was revised and improved,and 23 management elements of Sino-foreign JV in overseas construction were obtained.Secondly,through the questionnaire we conducted a targeted survey of the importance of management elements of Sino-foreign JV in overseas construction,and analyzed the data by factor analysis.Four main components are obtained,including formation management,internal management,contract management and financial management,whose contribution is analyzed.Then focusing on the critical management elements with higher weights and combining the current management status of Sino-foreign JV in overseas construction,the proposals for management of Sino-foreign JV in overseas construction were put forward from four aspects,including establish a joint team with complementary advantages,strengthen coordination and management of internal organizations,attach importance to joint contracts and risk management,and formulate clear financial management procedures.Finally,combined with a case of LBT tower project in Morocco,the critical management elements of the Sino-foreign JV in the process of the establishment and operation are analyzed to verify the applicability of the elements obtained above,and to apply the critical management elements in practical project.