Research On Risk Evaluation Based On Investors Of BT Finaning Model

Currently, due to the rapid development of our economy and the accelerated process of urbanization, there is huge demand for urban infrastructure construction and utilities project construction. Although government invests vigorously in national infrastructure constructions which enable our urban infrastructure have a big improvement, it still can't meet rapid economic growth and growing needs of people. Therefore, relying on the government investment already cannot satisfy the needs of urban infrastructure construction, and how to raise funds has been the key point to develop urban infrastructure construction. Attracting social capital and introducing market mechanism is an effectively way to solve the government financial pressure, improve operation efficiency, cut down engineering cost and introduce advanced project management technology.In recent years, BT (Build-Transfer, abbreviated BT) financing mode aroused widespread concern with its powerful function. It had some successful operation experiences in large infrastructure projects. If introduce BT mode into financing way of local government constructions, it can realize investment diversification, risks allocation and benefit sharing. Besides that, it can also effectively relieve the government's fiscal pressures. It is more efficient than traditional government single investment mode with its new mechanism, flexible management and well-divided duties.In this paper, it first analyzed the significance of using BT mode according to its development background both at home and abroad and the current situation of our country's construction investment. This paper introduces the basic concept, basic characteristics, relative merits and operation process of BT mode. It also detailed analysis major risks of BT during the implementation process and main risks of investors faced in BT mode. Through analysis the risk of BT mode, we can establish investors risk evaluation index system and establish the risk evaluation model by using the analytic hierarchy process (AHP). It is key point to judge whether the risk assessment model is effective or not. The aim of this paper is calculating proportion of all kinds of risk factors with analytic hierarchy process (AHP) to achieve the goal of optimization. Through multiplying the score of risk factors by corresponding proportion, we can calculated the total score of investors and summarize the reach a conclusion of risk evaluation.Ater establish the risk assessment model based on analytic hierarchy process (AHP) in the fourth chapter, this paper carried an empirical studies on a tunnel project on Ronggui street, Biyun road, Shunde district, in Foshan city of Gugangdong province. In addition to verify the rationality of the risk assessment model, it provides investors with experience of decision-making and management of risks.