Research On Contract Risk Management In Airport Construction Project Based On The Contractor

Construction contract is the important basis of determining the rights andobligations for parties in the construction project, it is also the crucial factor foraffecting the cost, quality, schedule control in the construction process. With theincreasing competition in the construction market, construction companies graduallychange from extensive management to meticulous management, and pay attention tothe contract risk management which is included in the project management. However,the contract risk management level can’t satisfy the reality needs at present, becausethe contract risk awareness for construction companies is weak, and owners oftentransfer risk to the contractor using harsh contract terms, resulting in a seriousimbalance on risk sharing and unnecessary losses for the contractor as well as poorbenefit. Therefore, how to control the contract risk and prevent the risk losses willplay an increasingly important role of improving the competitiveness and the contractrisk management for contractors.Firstly, this paper describes the contract definition, contract classification, riskmanagement concepts and the general process. On this basis, the paper mainly makesa horizontal comparison with risks shared by parties in different contracts whichinclude price contract, unit price contract and cost compensation contract.Contract risk identification and assessment is the prerequisite and foundation ofthe project success among the contract risk management in construction project, whilethe contract risk sharing and treatment is the core and security. Then, from theperspective of the contractor this paper makes a comprehensive and systematicidentification to risks which may exist in the construction contract based on riskchecklist method, and establishes contract risk index system which is scored byexperts through questionnaires. After this, the paper calculates and analyzes theresults using AHP method in order to determine the risk indicator’s weight andcomplete the contract risk assessment. Based on the risk sharing principles and riskassessment result, the paper makes game analysis of the contract negotiation andproposes general measures of contract risk management in the construction project.The analysis process has some reference value for the contractor to management risksscientifically and reasonably.Finally, this paper takes the installation project of International Terminal in Qingdao Liuting Airport as an example, and carries out a systematic analysis on thewhole contract risk management process including tender offer phase, contractsigning and performance, project delivery and defects liability period throughintegrating composite research methods with the specific project practice. Theanalysis plays an important role of controlling contract risks and preventing risklosses as well as improving the contract risk management and project benefit. Theconclusion obtained above not only theoretically makes useful supplement for the riskmanagement research in construction contract, but also provides reference to treatrisks rationally and manage risks effectively for other contractors. Meanwhile thispaper has some theoretical significance and practical value.