Study On The Optimal Strategy Selection Method Of Owner And Contractor Under The Delay Of Large Project Execution

Dynamic relationship between project and environment,human and resources greatly increases the possibility of conflict of interest between project's different parties,and schedule delay is often an important cause of conflicts in project management process;The prolongation of the delay time will make the project stakeholders make more costly decisions with other better choices,which will make the owners and contractors suffer huge economic losses and reputation losses;So in the face of delayed projects,how the owners and contractors make decisions to optimize the interests of both sides has always been the concern of project managers.However,through extensive literature reading,it is found that the current research on engineering delay focuses on the causes of engineering delay,delay analysis methods and construction period claims.There are few researches on the strategy of solving the problem of delay.Claim is the main strategy to solve the delay problems,but it exists the following defects: Most of the claims are based on the responsibility to compensate the other party's losses,delay the construction period or rush to work,no specific algorithm for how to rush to work;claim is easy to cause dispute,leading to arbitration or litigation,which is not conducive to the relationship between the two parties;For large engineering projects with long delay time,claim cannot reduce the delay time,and it is not economical to claim for delay.Therefore,this paper attempts to study the possible strategies of the owner and the contractor under the engineering delay and how to reach an agreement on the completion time.Firstly,based on the analysis of the delay status of the large engineering project,the delay processing process and the game theory conflict handling method,the paper explains the advantages of game theory in solving the delay conflict,and then describes the delay problem,and selects the income indicators that can represent the delay of the two parties.Establish a complete information dynamic game model of delay caused by contractor and owner respectively.The model is analyzed from two aspects: the fixed value and variable of delay compensation coefficient and the inverse inductive method is used to solve the model.The aim is to find the optimal strategy of both parties through the game equilibrium between owner and contractor,so as to promote the reconciliation between them;finally,an example is given to illustrate the process of determining the delay compensation coefficient by bargaining between the two parties and some suggestions are put forward to the owners.Through the research,the following conclusions are drawn: firstly,the parameters involved in the model are effective and can affect the width of negotiations between the two sides;secondly,regardless of the project delay caused by either side,the optimal strategy choice of both sides is negotiation,but it needs to be based on the clear understanding of their own benefits and willing to make compromises;thirdly,the setting of delay penalty is very important,improper delay penalty will make the negotiation invalid;fourth,with the increase of bargaining power of the owners,the agreement point will move to a shorter delay time..This research can make owners and contractors understand the problem of delay more deeply,have an accurate analysis of their situation,and can quickly and effectively guide the treatment of the problem of project delay,so as to reduce the delay time and avoid the disputes and conflicts caused by the delay,to make the delayed project develop in a mutually beneficial direction.