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Identify any potential weaknesses that the theory has and how would address / remedy these
Bounded rationality and individual capacity constraints. Both the owner and the contractor seek to maximize their own interests, but the fundamental interests of the two are inconsistent. The maximization of the owner's interests is the "best combination" of investment, progress and quality. In order to maximize the benefit of the contractor, the contractor may not maximize the interests of the owner as the standard of the choice of behavior, and may even harm the interests of the owner. Most of the owners' lack of professional engineering technology and management knowledge, how to guarantee project and reasonable economic benefit has not enough experience, some even lack the basic knowledge of engineering construction, supervision and control of the means and methods and necessary under certain constraints, which requires the construction supervising units to monitor and control of the contractor, in order to reduce the project contractor, behavior, guarantee the project quality conform to specified requirements (Moreau, 2016).
Establish key connections to other areas of practice (e.g. demonstrating that estimating is connected to risk management etc.)
Agent theory has the key connection into the interest among the different parties. The high incidence of excessive competition in the market environment, reduce the cost as the primary consideration, all the competitors and the technological innovation and technological progress to the money, no doubt increased the construction enterprise management cost, caused by excessive competition in the market environment construction engineering company profits are generally lower, to some extent inhibited the construction enterprise technology innovation power, reduce enterprise construction projects through technological progress to promote the international competitive ability. In addition, technological innovation to improve the labor productivity and cost reducing method, compared to the extensive use of cheap labor in the process of project construction method to decrease the cost of construction engineering enterprises more directly, more easy to work (Sergeeva, 2017). Therefore, the technology of construction labor capacity requirements are relatively low and under the condition of fierce competition, the profit margin is not high, most of the construction enterprise is not willing to, also did not through technical innovation to improve productivity in order to realize the purpose of cost reduction.
4.3 Define the concept would apply
1) analysis of the problem of informatization construction.
In the process of project construction, the owner, supervision engineer, the contractor needs to comprehensive and accurate grasp of the indicators in the engineering construction project of the control condition, medium information such as measurement and payment, the engineering quality. However, the information communication mode of most projects is still mainly based on manual report. As the owner and government department, the project information is usually communicated through the monthly report and quarterly report. Unable to understand the project quality, project cost and progress control information in real time, the control mode can only be handled afterwards. This not only reduces the supervision and control ability of the project department to the project department, but also increases the information transfer cost of the project, hindering the coordination and communication between the participating parties of the project (Skibniewski, & Vecino, 2012). It increases the likelihood that the problem will be magnified, and in serious cases it may even affect the delivery results of the project.
(2) analysis of the reasons for the low level of informatization construction.
Informationization awareness is not strong, and the information work is not paid enough attention. The various project participants are still accustomed to the traditional management model, the strategic significance of information resource has not been fully understanding, understanding of the content, function and way of information construction, less attention is not enough, a direct result of lack of depth of planning, construction, the informatization and invests in informatization (Yang, et,al, 2007).
Existing project management information system is not perfect, the function is not complete, the owner, supervision, construction and design units of information communication between still rely mainly on traditional way of information communication, lead to low efficiency, easy to get wrong information communication so often delayed the schedule, increase the project cost.
Information standard letter to be established. Developed countries in project management, engineering design, construction, real estate transaction management, municipal utilities and other fields, has gradually established a relatively perfect standard system, can effectively guide, standard, the process of integration of information, have the effect of get twice the result with half the effort. However, our work in this field has just started and seriously lags behind the actual process of informatization. Because of the lack of data standards, existing information can not be fully applied, such as the current architectural design enterprise has basically realized the computer drawing, but many of these graphics electronic documents failed or rarely in the aftermath, building construction, construction supervision, be used in property management, many basic work and repeated in various construction management link.
Lack of information technology professionals. Informatization is developed rapidly in recent years a field, and the research development and application of speed faster and faster, showing a shortage of professional and technical personnel, construction industry information technology professionals lack is more obvious, know both information technology and be familiar with the industry situation of compound talented person. The design and development results of many project management information systems cannot meet the requirements of the project participants, resulting in huge waste of resources( Lechler, & Cohen, 2009).
Identify the benefits that this would have offered to the Garden Bridge Project
The idea of establishing a project participant system collaboration requires the participation of each participant in the project to be implemented.
Approved and managed project objectives. Only on the basis of unity of goals and ideas, can project participants have the willingness to cooperate, trust and share risks (Bennigson, 1972). We will work together to solve problems and disputes to prevent the development of the prevention of the situation, and ultimately achieve a win-win situation for all parties involved in the project.
(1)
The involvement of top management. Project participants to break through the traditional concept and organizational boundaries, thus the construction of the project participants, the participation of senior managers and top managers of consensus and collaboration concept to the system has a very important role in the smooth implementation of. The concept of system collaboration requires the participation of all parties to form a project management team to share risks and share resources. What is more important between project participants to the project delivery target recognition and the consistency of the project information communication, so the top management's approval, support is the key factor that effect the success of the system concept of collaboration (Kendra & Taplin, 2004).
(2)
Openness of information communication. The concept of system collaboration requires information resources as important support, and information resources must be open to all parties involved in the project (BOUNDS, 1998). Sufficient information communication to achieve common project, to reduce the traditional model project supervision and restriction mechanism between parties, reduce project parties "" behavior" has positive meaning. Participation in the information communication is built on the basis of mutual trust, cooperation, to ensure that the engineering design data, such as investment, schedule and quality information can be involved in the parties timely and convenient access to. It can not only ensure effective control of construction project target, and can reduce a lot of repetitive tasks, to reduce the cost, more important is to promote the project participants to enhance customer satisfaction and project contractor competitiveness.
Suggest how would use / deploy this theory to get the best outcomes
The system cooperation agreement is best signed prior to the signing of the project contract.The system cooperation signed by the parties indicates the real intention of the project participants to a certain extent (Veloz, 1998). The agreement does not change the contractual obligations of the parties involved in the relevant contract, and the parties concerned shall still perform the relevant provisions of the contract. The main purpose of the system collaboration is to help the project owners to establish a public and mutual trust team, and determine the common objectives, task division and code of conduct of the participating parties.
Identify any potential weaknesses that the theory has and how would address / remedy these
There are many participants in the project, and the parties have both common goals and respective goals, which have both the overall interest and the respective interests. There is an interdependent interest relationship among the participants of the project, so the parties need to communicate and coordinate with each other to minimize conflicts. System collaboration mechanism embodied in cross-organizational communication, timely decision-making, project status evaluation and feedback, so as to reduce the claim and litigation, to set up the conflict prevention programs, improve the timeliness of resolving conflict, prevent conflict escalation.
