Naslov
The Principal-Agent Theory and the Role of Project Managers in Construction: Guidelines for Future Research

Autori
Cerić, Anita

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
International Congress on Construction Management Research - Conference Handbook / Thuraurajah, Niraj - Montréal : Bibliotheque et Archives Canada, 2012

ISBN
978-2-9813355-0-0

Skup
Joint CIB International Symposium of W055- W065, W089, W118, TG76, TG78, TG 81 and TG84 - International Congress on Construction Management Research

Mjesto i datum
Montréal, Kanada, 26.06.2012. - 29.06.2012

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
principal-agent theory; communication risk; asymmetric information; project management

Sažetak
The principal-agent theory has been successfully applied to the research of management of construction projects. It has focused on the relationship between the project owner as principal and the contractor as agent. Also, the relationship between the contractor as principal and sub-contractors as agents has been explored. After introducing the literature in this field, this paper will present recent research into the relationship between the project owner’s and contractor’s project managers along the lines of the principal-agent theory. An exploratory survey was used at the first stage of research. After the exploratory survey, the Delphi method was employed for further exploration of the issues involved. It has been shown that the two managers play key roles in the construction phase even though they are both agents not related by contracts. Having summarized this research, the paper addresses the opportunities for further research in this area, which offers a challenge to the principal-agent theory in the field of construction. Guidelines for future research take the central part of the paper. They focus on communication risks caused by asymmetric information, which are of central importance to the principal-agent theory.

Izvorni jezik
Engleski

Znanstvena područja
Temeljne tehničke znanosti

POVEZANOST RADA