BT mode, as a new engineering construction management mode, has flourished in China in recent years, such as Beijing Olympic subway branch line project, Chongqing Huacun Jialing River Bridge project and some projects in Chongqing University Town.
First, the connotation and overview of BT mode
In engineering construction, there are many management modes, and bot is one of them. The so-called BOT is the abbreviation of the build-operate-transfer model. It is mainly used for public infrastructure construction, that is, through franchise agreements, foreign capital or private funds are introduced to carry out infrastructure construction exclusive to the government, which is managed within the agreed time limit, and debts are repaid through project operating income and investment returns are obtained. After the expiration of the agreement, the project facilities will be handed over to the project owner free of charge. BT (build-transfer) is the historical evolution of BOT. Because of some public welfare projects, enterprises can't independently realize economic operation and obtain investment income, so the "O" in BOT, that is, the operation process of enterprises, is excluded, forming the "BT" model. Specifically, it refers to a new project management mode in which the owner authorizes the BT contractor to build a project through financing, and after the project is completed, it is handed over to the owner, and the owner uses the funds raised during the construction period and after the project is completed to pay the financing principal and interest of the enterprise. BT mode has the nature of investment and financing of general contracting enterprises. As partners of BT projects, general contracting enterprises and banks share the benefits and risks in BT projects.
Second, the analysis of the advantages of BT mode in engineering construction
1. can reduce the management cost and risk in the construction process. Under the BT mode, the construction of the project is undertaken by the BT contractor, and the owner does not need to set up a project management agency to implement management during the project construction. In addition, during the construction period, the owner only needs to supervise the BT contractor to hand over the qualified projects within the specified time, which saves a lot of manpower and material resources. At the same time, the owner pays the funds only after the project is completed and accepted, which greatly reduces the financing risk during the construction period.
2. It can reduce the project construction cost and shorten the construction period. Due to the large number of projects implemented in BT mode, BT contractors can give the most favorable overall price. The total contract price consists of project cost, various management expenses, reasonable profits, risk expenses, financial expenses and taxes stipulated by the state, and must be a reasonable price recognized by both parties to control the overall cost of the project. Under the BT mode, all the work involved in the project, such as land acquisition, demolition, pipeline relocation, design, construction and coordination, are undertaken by BT contractors, which reduces the intermediate links such as design bidding. Under the pressure of the owner's contract period, the coordination of BT contractors has increased, avoiding the phenomenon of wrangling between the owner, design unit and construction unit in the usual mode, and greatly shortening the construction period.
3. It is beneficial for the owner to control the total project cost. BT mode generally adopts fixed lump sum contract. By locking the project cost and construction period, the project cost can be effectively reduced and the investment and construction risks of the owners can be transferred. BT contractor will arrange the funds for the project construction period as a whole and be responsible for the project financing. During the construction period, it is not necessary to use the financial resources of the owner, thus reducing the financial cost increased by the owner because of financing. Owners only need to pay when the project is completed and handed over, which is conducive to reducing their debt level. Traditionally, the financial expenses in the project quotation are calculated separately according to the market interest rate, which is equal to the cost of the owner's own loan and will not increase the project cost. At the same time, the expenses are fixed quotation and lump sum, and the increase of financial expenses caused by unreasonable fund arrangement shall be borne by BT contractor.
Third, the problems of BT mode in the process of project management
With the implementation of BT mode, the following problems have appeared in the traditional tripartite management system of owner-contractor-supervision unit in China, which will restrict the development of BT mode if it is not solved.
1. Lack of corresponding organizational management system and project management personnel. Engineering construction projects include four stages: project establishment, design, construction and operation. Domestic engineering general contracting enterprises are basically developed from construction enterprises, and have rich experience and a large number of management personnel in the construction field, but they can't meet the needs in project approval, design and management, including personnel, experience and management system. Although some large domestic construction enterprises (groups) have established general contracting departments or general contracting companies, many enterprises can not meet the requirements of general contracting in terms of organizational structure and service functions. In addition, the information technology and management methods of project management are backward, and it is difficult to reflect the goal of integrating the whole project life cycle and meeting the environmental and historical requirements in the overall project contract. Therefore, the level of standardization and management is low, the ability of technology development and application is insufficient, and there is a big gap with international engineering companies.
2. Lack of overall planning ability for the project. In BT project, the general contracting enterprise lacks the overall planning ability of the project: First, it lacks understanding of various factors that restrict the construction period. In the overall construction organization design, the construction period is too idealistic, the key control points that restrict the construction period are not well understood, and the methods and measures are not effective; Second, the risk source management is not in place.
3. The supervision system can't meet the requirements of BT project. The rapid development of BT mode in foreign countries is closely related to its complete legal system and developed engineering consulting enterprises, while China's supervision enterprises can not meet the needs of BT projects in terms of supervision legal system, business functions and the quality of employees. The legal framework of engineering supervision in China has been initially established, but these laws and regulations are still quite imperfect, which is far from the practice of international consulting industry. In addition, the quality of supervisors in China is obviously low, their academic qualifications are generally low, their knowledge structure is single, and they lack knowledge in economy, law and management, which can not meet the needs of owners to implement all-round management of the project. Supervision enterprises in China employ a large number of retired engineers. Their advantage lies in their rich practical experience, but their comprehensive application of knowledge such as economy, law and management is insufficient.
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