Iron And Steel Design Institute Of Epc Project Risk Management Study

In the strict sense, the feasibility study is a starting point of the EPC model.If we can control all risks which is from feasibility study until the design, construction, completion,and can affect investment decisions, cost, schedule, quality of the whole process.Then,EPC mode compared with other general contracting model possesses a distinct systematic risk management advantage.Design Institutes with technical and personnel-intensive, engineering experience, technology and the advantages of full and timely market information, but the traditional iron and steel design institute focus on the design,lack of risk awareness and systems management capabilities. With the changes in the steel construction market and increased competition forced the institute to accelerate the transformation of EPC contracting mode.EPC mode, the contract power will be strengthened, more tasks will be undertaken,the general contractor's can get more profitable, but the risks soar as a result. Therefore, it is already a urgent questions to fully understand EPC numerous risk factors and characteristics in iron & steel construction projects,,and use appropriate assessment methods, to take effective preventive measures.The article takes a systemic analysis to the Design Institute EPC turnkey project characteristics risk,as well as the main contents of the risk management. During the risk management analysis,the Analytical Hierarchy Process was used.The HH group Chain Grate&Kiln project applys scientific and effective risk management, to overcome difficulties of many risks. As a result,not only the project ahead of schedule,well quality, cost control within budget, but also have significant return on investment owners, and design institute have good benefits.It's a win-win results.About how to improve risk management and how to understand the relationship and project management, this paper presents its own point of view. First of all,EPC general contractor and the owners have same risks. Second, we must consider the differences of the general contractors and construction phase, to carry out effective risk research and management.Risk management as part of project management, which runs through the entire process of project management. Risk management is to ensure achievement of objectives of project management, project management is a prerequisite for effective risk management, the two are inseparable.