The Project Risk Management Study Based On BOT Financing Mode

The infrastructure is a foundation of one country's economic, which plays an indispensable role in economic development. But the construction of the present infrastructure of our country has been under-capitalized all the time. As one new-type financing mode, BOT financing mode has been paid more and more attentions for its unique superiority. However, because of BOT project's long duration, a wide range of knowledge, and the big injecting capital, the risk management of BOT project becomes complicated and difficult, that has become the question which lots of researchers pay close attention to. So this paper regards BOT project as the study object, carries on a deep discussion to the project risk management under BOT financing mode. Meanwhile, this paper carries on the positive research based on the BOT project of Chongqing Yusui Highway. Finally, this paper probes into the question existing in the present project risk management of BOT in China, as well as proposes the suggestion in order to enhance BOT project risk management.This paper structures the risk management procedure of a project at first. On this basis, proposes the methods to manage risk combine the characteristic of BOT project financing. This paper points out that BOT project should distinguish the risk from two respects: systematic risk and non- systematic risk. Then this paper carries on the risk management studies to the BOT project of Chongqing Yusui Highway. This paper uses AHP to analyze the project's risk, the results indicate that completion risk, management and administration risk, technological risk and exchange risk are more important in this project. On this basis, this paper proposes some methods to control these risks, including signing contract of "paying keying", signing supervise and technological service contract, adopting currency extends bill. Finally, this paper probes into the implementation state of BOT project risk management in the present stage of our country. This paper points out that there existing some insufficient: (1)our country have laws and regulations to be imperfect; (2)examining and approving efficiency is low;(3)the foreign currency risk is big; (4)the financing channel is limited; (5)the risk management lags behind, etc.. At the same time this paper proposes some methods to enhance BOT project risk management, including: (1)strengthening legislation of BOT project financing;?opening the financial insurance market; ?setting up the intermediaries of BOT project risk management; ?developing domestic-investment BOT project; ?strengthening training to the administrative staff of risk management, etc..