The success criteria of public project have been controversial although they have been discussed for a long time. The conception of project success is still ambiguous. In this paper, a new perspective of the success criteria of public object is introduced . Based on the equilibrium between justice and efficiency, the core value of the public project is formed by analyzing the range of project stakeholders. Also the models of the formation and realization of the core value are built up. At the end, the feasibility of forming and implementing the core value of the public project is ana- lyzed by using the new way of value network.