Research On The Risk Management On Saudi YM Cement Plant Construction Project By WY Company

Under the guidance of "One Belt and One Road" initiative from Chinese government,WY company made the decision to go abroad and be a part of international engineering contract competition to expand its business oversea by grasping the opportunities in the developments of the countries.The owner of Saudi YM cement plant is going to build two 10000t/d production lines at north-eastern of Riyadh within 32 months,Germen TK company is EPC contractor outsourcing the construction to WY company who deems the project as implementation of oversea strategy,however,contractual fulfillment is a big challenge due to risk-concentrated contract,harsh natural environment and little knowledge of Saudi religious and political impact,which calls for a full attention on its risk management to control the risk based on comprehensive understanding the local feature.Given risk management theory consisting identification,analysis and evaluation,control,this article is mainly study three categories of risk(localization,contract,execution)according to the characteristic of YM cement plant project Firstly,the article identified and listed potential regional risk based on Saudi religious,culture,politic,and then check the contractual risk and marking major points,followed by reviewing risks in key executional processes.Taking full advantages of Document Analysis Method,Flow Chart Analysis,potential risks of the project are positioned and sieved out accordingly.Analytic Hierarchy Process is used to obtain quantitate importance of risks respectively,which indicates the focuses of risk management.Detailed control methods are given to those focused risks and concise counter-strategies to the rest with 3 basic effective risk-control skill incl.avoiding,facing and averting.Meanwhile,supplementary continuous improvement and limitation are given herein.