Conjoint utility analysis of technical maturity and project progress of construction project

Abstract

In this paper, taking construction project as the research object, the relationship between the project maturity index calculated by the construction project technical risks with different fine degree and the project progress index is studied, and the equilibrium relationship between the Party A’s utility curve and the Party B’s cost curve of using project maturity index and project progress index as the research variables is analyzed. The results show that, when the construction project technical risk division is more precise, the conjoint utility of the project's technical maturity index and the project progress is higher, and the project’s Party A and Party B two sides are closer to the optimal equilibrium. This shows that the construction project technical risk must be finely divided, and managed and controlled respectively, which will help to improve the conjoint utility of the project Party A and Party B two sides.