Project Risk Management Study

When we step into 21^st century, the development of market-oriented economy in our country has become mature. In the market-oriented economy, every factor, of which range and extent cannot be decided exactly, develops and changes by its own regular pattern. These factors influence on the cost and the benefit directly. Specially, the producing process of the project is different from other ordinary commodities. The project has the characters large investment, long production cycle, single production, various uncertain factors, uncontrolled construction, etc. If they are not prevented, the project will not go smoothly. The implement of risk management of project will benefit the development of the construction market and have a deep effect on the projects in our country. Therefore, many professional people of project list it as the seventh item in the project management, besides the control of investment, construction period and quality, the management of the constructions and information, and the coordination among the construction organizations."Risk Management System" is a mature system, which is established by the western developed countries' people throughout practice experiences for more than 100 years. The system has become the convention in the international project construction. The project risk management plays an important role in the project management. It is a new discipline, which develops on the basis of the combination of traditional thoughts and modern scientific and technological theories. Since the late 1980s, we began our research on the risk management, as well as on the project risk management. Our research falls behind the ones in developed countries, since the time of our research on the project risk management is later. The research plays an important role in the promotion of the development of our project risk management both in theory and in practice.The full text divides into five chapters. The first chapter elaborates the identification and the basic characteristic of the project risk, and the identification, theory and process of the project risk management. The second chapter elaborates the identification and the analysis of the project risk management. In the risk identification section, it elaborates the basis, the process, the technique and the implement. In the risk analysis section, it includes the qualitative analysis and the quantitative analysis. The third chapter elaborates the basis, the method and the techniques of the project risk evaluation. The fourth chapter analyzes the function and the significance of the project risk management in a whole project. The last chapter proposes a series of countermeasures such as reduce the risk, transfer the risk, keep the risk, avoid the risk and monitor the risk.