Research on Value Creation of Engineering Project from the Perspective of Knowledge Creation Fusion—Based on Stakeholder Theory

In the era of knowledge economy, knowledge creation is closely related to the value creation of engineering projects. Project stakeholders have their own knowledge systems, and the value creation of engineering projects largely depends on the knowledge creation and sharing of stakeholders involved in the whole life cycle of projects. Based on the knowledge creation fusion perspective, this paper first analyzes the core elements of engineering project construction management and the main stakeholders involved in the whole life cycle. On this basis, a value creation model of engineering projects that integrate knowledge creation is constructed. In addition, its value creation mechanism is in-depth analyzed. The results show that the integration of knowledge creation and the whole life cycle of engineering projects essentially establishes a knowledge system, which gains competitive advantages and is conducive to long-term development by influencing the original behavior of stakeholder enterprises, and finally solidifies into an enterprise value system. The created engineering project value creation mechanism based on knowledge creation is composed of the value recognition, value proposition, value fusion, value realization, and value communication of the stakeholder enterprise. Through this interactive mechanism, all enterprises jointly create, transmit, and maximize the comprehensive value of the engineering project.