Risk management is an important content of project management, and it hasbeen developed to be a complete theoretical system in foreign country. This articletries to apply risk management theory to the management of international project ofengineering contract from the view of contractor, and through implementingcomprehensive risk management, to improve contractor's project managementabilities, and enhance his competency. Several management models are prevailing in international engineering project.Under different management model, the contractor will undertake different riskresponsibilities. This article summarizes various risk that contractors meet ininternational engineering project, classifies them into technological risk,environmental risk, managerial risk and special risk, and attends to provide referencefor contractor to identify risk source. To help contractor implement comprehensive risk management in internationalproject of engineering contract, this article, utilizing existing theory of riskmanagement, establishes risk management frames in project development phase andcontract implementation phase respectively, and describes the risk managementtheories and methods in the frames, such as risk identification, risk analysis andevaluation, risk control and risk treatment strategy and measures. At last, this article performs risk identification and analysis of Chashma nuclearpower plant phase-2 project under the direction of risk management frame andtheoretical knowledge, proposes material measures to manage risk. Meanwhile, itproposes to comprehensively apply risk management frame in the internationalproject. It is hoped that through implementing comprehensive risk management, thecontractor can control the risks better, reduce lost due to risk and reap a nice profit,and the contractor can explore the right way of applying risk management ininternational contracting project.
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