The Application Research Of Manage Risks Of The 43rd Research Institute's Projects

Project risk management, as part of project management, is the critical factor for the success of a project. In recent years, risk management model becomes more and more important in both research and industry.First, this paper describes the basic concept of project risk management. It gives the risk definition and defines the risk management assessment matrix. This paper also discusses the main sources of the project risks and summarizes the characteristics of various risks. Then this paper gives the detailed analysis of the risks in the 43rd Research Institute's project management, identifies the risk categories and proposes a systematic risk management mechanism applicable to the 43rd Research Institute's projects, which solves all the issues in the projects. We introduced and integrated both AHP and FTA into the risk management model of the 43rd Research Institute's projects. In the risk evaluation process, AHP model is used first to assess the overall risks of the project, then FTA model is adopted to evaluate the risks of each small systems of the project. Since this new risk management model integrates the advantages of both AHP and FTA, it gives more accurate analysis of the risks of the 43rd Research Institute's projects.Last, as a practice, we applied this model to the risk management of the 252KV cavity composite insulator project developed by Xi'an Galaxy Composite Insulator Co.Ltd. which is a sub company of the 43rd Research Institute. We integrated AHP, FTA and pyramid diagram to identify and evaluate the risks. We figured out the critical risks of this project, took the according risk handling strategy and performed the risk tracking and control. Based on the good results, this model is proved appropriate to manage the risks of the 43rd Research Institute's projects.