Multi-Incentive Model Between the Project Manager and the Real Estate Enterprise Based on Principal-Agent Theory

Based on analysis of principal-agent relationship between the real estate enterprise and the project manager, this paper establishes multiple incentive principal-agent model which encompasses many factors. It also illustrates the necessity of offering material incentive and nonmaterial incentive for the project managers, and analyzes effort of project manager ability, effort level, exogenous random variable and its impact extent on incentive-reward strength coefficient under condition of information asymmetry. For conclusion the paper indicates essential considering factors for designing project manager incentive mechanism of the real estate enterprise.