Risk Management In The Bidding Decision Stage For The Sudan GNPOC Headquarter Project

With the sustained deepening of China economic reformation, especially with China's accession to WTO), more and more Chinese excellent enterprises pay more attention to International Market. However, opportunity and risk are coexistent in the international bidding competitions. Compared with the domestic terdering projects, there are more uncertain interior and exterior factors pertaining to it during the period of analysis and implementation. These factors are termed as"Bid Risks", They should be reasonable forecasted, meanwhile measures and precautions should be taken to mitigate those risks facilitate winning the bid and also build a good foundation for the future after the bid is won.The objective of this paper is to develop a'Risk Assessment Model'in bidder decision making phase, through the Fuzzy Mathematical Theory and Check List Method. GNPOC Headquarters Building Project was the case of study; GNPOC is an abbreviation standing for"Greater Nile Petroleum Operating Company", a multinational company operating in Sudan. Based on the actual situation of domestic enterprises is shortage of suitable and quantitative risk evaluation model, and the other's study achievement for reference. On the basis of the theories about risk analysis and management, international engineering procurement construction (EPC)international project bid, the paper first determining which risks might affect the project and documenting their characters then confirm the identified risk factors based on the actual on-going bidding projects and EPC projects done by CPE. With the joint use of Qualitative Risk Analysis and Quantitative Risk Analysis method into together, analyze the possible risk and its character during the biding decision-making phase, methods of risk analysis and evaluation is recommends The author compared and analyzed seven (7)methods of quantitative risk analysis and assessment, finalized to use the Fuzzy Mathematical and Check List to establish a risk assessment framework for bidding risk management, namely, ascertaining the risk level of project, then prioritizing risks factor, for subsequent further analysis or action by Check List, assessing and combing their probability of occurrence and impact, numerically analyzing the effect on overall project objectives of identified risks, making risk response planning, developing options and actions to enhance opportunities, and to reduce threats to project objectives. Tracking identified risks monitoring residual risks, identifying new risks, executing risk response plans, and evaluating their effectiveness throughout the project life cycle. The'Risk Assessment Model'can provide the effective data for the enterprise to run risk decision and management at the bidding decision–making phase.Finally, GNPOC Headquarters Building Project in Sudan is selected as the case project for providing the model established in bidding risk decision making. The model is applied the model through the investigation and mark from seven (7)professionals who have rich experiences, and assessment result could reflect the actual condition of the project, and the risk responses measurement is actual guidance meaningful for the execution of project. It was proved that the risk assessment model which is developed in the paper is simple and practical.