Study On Project Risk Management Of Expressway Concession

With the rapid development of China's expressway, the concession operation as a highly competitive and vitalized business model is more and more widely used in highway construction and operation, and has achieved some results. But the gains are always accompanied with risks. There is still a need to strengthen the study on project risk management of China's expressway concession.On the basis of extensive literature review and the results study, the paper firstly gives an in-depth analysis of China's current development of highway concession, and the various modes of foreign franchises, as well as our business models and features of the highway concession, puts forward the importance and necessity to study the project risk management of expressway concession.Secondly, the paper analyses the differences of project duration division between expressway concession and general projects, proposes the expressway concession project can be divided into the three stages, which are early stage, the construction stage and the operation stage. The paper discusses ways to identify the expressway concession project risk. According to the three stages, the different project's bodies and the controllable of overall project risk, it correspondingly gives the classification of identified results.Then, according to the characteristics of expressway concession, the paper discusses the methods used in risk evaluation, which are comprehensive evaluation, AHP and fuzzy comprehensive evaluation. It analyzes the response of various risks from the point of view of three stages, the interests of different bodies and the different measures to deal with the riskFinally, the paper analyzes the risk factors of Henan Anyang-Linzhou expressway concession project, and uses the AHP method to calculate the risk and ranks the importance of various types of risk, proposes effective ways to share and manage risk.