Research On Risks Management In The EPC Contract Of International Hydropower Project

The hydropower project is characterized with large construction scale, long construction period, complicated technology, various construction links and constraint factors. Due to the effect of the circustances such as the geography, laws, culture & religion, politics & economy of the country where the project is located, the international hydropower project possesses its unique complexity and uncertainty. Consequently, the general contractor shall face extremely high project risks. Risk management becomes the main content of project management and is key to the target realization of project management.Based on a systematic overview of the current status of project risk management at home and abroad and according to the features of general contraction of international hydropower EPC projects, this paper utilizes the existing theories and approaches of project risk management to make an in-depth analysis of the genereal process of risk management in the implemenation of EPC project by the general EPC contractor including risk planning, risk identification, risk analysis, risk handling & controlling. By analysing WBS of the hydropower project this paper identifies and analyses the project risk, then establishes a mutli-level risk model and evaluate the risk by Fuzzy Analysis Method. Based on the risk type and identified risk level, it proposes relevant risk handle and monitor strategies and establishes the risk management model in the project implementation by the contractor.Finally, by taking the example of Ghazi-Barotha Hydorpower Project in Pakistan, this paper aims to estalish an effective risk management model applicable to the international hydropower projects undertaken by the Chinese construction companies, so as to improve project management level and enhance company competitiveness.