Risk Management Studies, International Engineering Contracting Projects

The international project contracting always been considered as a business with big risk. It is accompanied with many risk factors not only including political and economic condition, correlative policies and laws of external relations, imports and exports, capital and manpower of the country of project, but also confronting with different clients, technical regulations and standards, geographical and climatic condition. However, risk and profit always coexist. There are fat profits in international project contracting market. So it has been the focus of international contractor how to avoid the risk. By combining the case of rebuilding project of Nigeria National Fertilizer Company, the author analyze all kinds of risks of international project and propose various methods to avoid risks on the base of discussing the concept of risk and risk management. This paper provides typical thought and feasible methods of risk management for international contractor. It has applied value to risk management of the same style international project, and has also referenced function to different style international project.