An integrated governance model for provincial specialized project management boards to improve public investment efficiency

Abstract: This study proposes an integrated governance model for provincial specialized project management boards to improve the efficiency of public construction investment. The study analyzes the theoretical foundations of legal risks and assesses current legal risk governance practices. The findings show that many boards lack specialized risk management units, early-warning mechanisms, modern assessment tools, effective inter-agency coordination, and personnel with adequate legal and contract-management competencies. Consequently, risk responses remain fragmented and largely reactive. The proposed model comprises three interconnected layers: strategic governance, project governance, and legal risk governance, with legal risk management at its core. The study recommends establishing specialized legal risk functions, applying lifecycle-based risk management, using risk matrices and key risk indicators, strengthening digital project management, improving staff capabilities, and enhancing coordination among stakeholders. The model is expected to reduce delays and cost overruns while improving transparency, accountability, and public capital efficiency.