Study On The Risk Management Of Power Construction Project Investment

With the further development of reform on China's power investment system and reform of investment and financing mechanism,investment in power construction projects has been converted to a diversified investment with central and local governments,state-owned and collective enterprises,citizens and foreign investors participating instead of the previous single investment from central government.The emergence of a diversified investment entity and the growing shortage of electric power, making the quantity and scale of investment in China's power construction projects increased significantly;furthermore,it is gradually developed at the direction of maximization,scale,modernization,high technology content,which has put forward higher requirements on risk management of investment in power construction projects. Scientific and effective risk management is an important basis for investors' correct decision making,also an important guarantee for the smooth conduct of projects. From the perspective of investors,combining modern risk management theories and features of investment in China's electric power construction projects,this paper systematically introduces procedures and methods to risk identification,assessment and prevention in the investment of power construction projects;following the project's development along with concrete practices,focuses on analysis of possible and common risk factors in the entire process of the investment,establishes the index system for it's risk assessment,and presents a multi-level fuzzy synthetic model on risk evaluation based on AHP(Analytic Hierarchy Process) and FCE(Fuzzy Comprehensive Evaluation),then illustrates the application of this model in the above risk assessment with practical examples.Finally,this paper explores the coping approach to the risk in the investment of power construction projects,takes defense methods against typical risks and risks in various stages of the project as the key analysis,and attempts to provide risk management experience based on theories and methods for its investors.