Research on Institutional Innovation of Centralized Management Mode for Government Investment Projects Based on Transaction Costs Analysis

摘要

As a reformation method for government investment projects in China, government centralized management mode has faced some problems to improve the projects management performance under current project management environment and Institutional innovation is the primary solution. By analyzing the governance structure of centralized management mode, together with transaction costs at different levels of governance structure, it determinates the decrease methods for the transaction costs at the level of project construction. Based on the methods above, it analyzed the possible ways for the institutional innovation. It showed that the institutional innovation measures of government investment projects centralized management mode should be considered from organization framework and operation mechanism. Moreover, there are relatively high relevance between the specific routes of institutional innovation and the decrease methods of transaction costs. The research has provided theoretical bases for the institutional innovation of government investment projects and will give more useful advice on further innovation.