The Study On Integrated Risk Control And Management Mechanism Of Large Projects

As well known, our government will significantly increase the investment on infrastructure, and this leads to large number of engineering projects in the coming years. These engineering projects are becoming larger in size and more complex in nature as the social economy grows rapidly and more money are invested in them. However, the uncertain factors associated with these projects are increasing, too. Large projects usually face more risks, and the damage and expenses caused by these risks are increasing, too. Therefore, from the aspect of whole project, using integrated method and system theory to evaluate and control risk, is a more efficient way of risk management. Establishing integrated risk management models has theoretical and practical significance, and is a new research area of risk management in the construction industry.Firstly, based on the inter-dependency of profits for all project participants, risk analysis is carried out in this thesis for project client, architect, contractor, construction supervisor and material supplier, respectively. Each party faces different risks in the process of a project.Secondly, the risk migration effects are studied according to the inter-relationship of risks between different stages of a project and between different groups of projects. Project risk develops based on "chain structure", and every risk factor on the chain may "radiate" its effect. Risk event happens later can amplify the effects of previous risk events. Therefore it forms a whip-tip effect of risk events. In another aspect, risks migrate between sub-projects within a project group, the characteristics of risk migration in project group is discussed.Thirdly, the risk control and management mechanism is presented for profit-dependant model, project-life-cycle model, project-group model and comprehensive project model, and detailed discussion is given in the thesis. Based on this, large engineering projects are classified into four types based on their time and space complexity, and different risk control strategies are proposed for them.Finally, two case studies were carried out—Guangzhou AH Hospital Project and Shanghai Shibozhou Project. The integrated profit-dependant risk management model and the integrated project-life-cycle model are applied on these two projects, respectively. The proposed risk management strategy is verified.