Research On Project Project Risk Sharing Based On IPD Model

Integrated Project Delivery (IPD) is a project delivery approach that could save the cost of construction. And, the larger the project, the more the cost of the project can be saved.The team of IPD has the ability of integrating people, systems, business structures and practicing into a process that collaboratively harnesses the talents and insights of all participants to optimize project results, increase value to the owner, reduce waste, and maximize efficiency through all phases of design, fabrication, and construction.As the parties involved have different requirements between risk sharing and income distribution,there is not a risk allocation scheme can refer as well.As a result,negotiations on this issue will not succeed, or taking into account the urgency of the project construction, the participating parties reluctantly agreed to unequal conditions.Once the risk can not be estimated or promise appears not to be honored, IPD team will collapse, so that only a handful of IPD project can normally be completed currently in China. There is therefore a need to develop an equitable risk allocation mechanism for the delivery of IPD projects in China so as to achieve the purpose of reducing construction costs truly.Firstly.a risk register of sixteen macro level risks, sixteen market meso level risks and four microscopic layer of risks was firstly identified and adopted to explore the equitable risk allocation. Established risk factors set against these risks, Meanwhile, according to the parties involved have different risk management capabilities, divided their responsibility for risk management.Finally, according to the characteristics of IPD modality, the paper put forward a kind of risk-sharing processes which involved the "four stages" based on negotiation.Secondly, according to IPD risk sharing "two objectives", in order to calculate the proportion of risk-sharing everyone satisfied.This article used the analytic hierarchy process (AHP) and entropy weight method to calculate the distribution of weight, considering the cooperation degree of the parties at the same time, the correction coefficient is calculated.First of all, the third, considering the uncertainty of the risk factors and the risk preference of the parties and the ability to bear risks, on the basis of stochastic cooperative game theory, this paper constructs the optimization model of the participants risk transfer, and was used to solve the model and analysis.What’s more, this paper calculated the parties need to compensate or guarantee coefficient of a certain risk. Not only achieve the goal of the project overall risk minimum, also make the risk from aversion to risk appetite and achieve the cooperation efficiency of each participant.Finally, the IPD project is very scarce in China.Through the example simulation analysis, get the weights of risk sharing in the project.Also verify the risk transfer of stochastic cooperative game theory to build model can effectively reduce the overall risk of the project.The Research of the IPD project theory and the method of risk sharing can provide decision support to determine the reasonable risk allocation proportion and provide a reference for the parties how to undertake liability risk allocation in engineering practice.