Research On The Risk Control Of Agency Mode For Government Investment Project

Since21st century, with the rapid development of china’s economy, there is aninterrupter increase on the investment of government-programs. By continuousexploring the management system applied in government invested programs, the centraland local government departments have gradually realized the important of themanagement mode of agent-construction system on high efficient utilization ofgovernment investment. The new management system have changed the pastinefficiency management status which was over-concentration characterized as“investing, construction, managing, using”. But the construction-agency system is quitenew in China and the related rules and regulations are far from being perfect, so thereare many problems issued from the application of the system and which can bring aseries of risks to the investor, based on the above, it is of great realistic significance onensuring high-efficiency use of the state-owned funds to perform well on the riskcontrol of government invested programs in which the agent-construction system isapplied.Based on analysis of the management mode of government invested programshome and aboard, begin with the definition, recognition and measurement of commonrisk, in this paper the recognition and measurement of risk existing in governmentinvested programs in which the agent-construction system is applied were carried out byusing the method of expert investigation and the method of multi-dimensionsmeasurement. Sixteen kinds of risks lie in government invested programs wereinvestigated in the five aspects which are political risk, economical risk, and naturalenvironmental risk and risk of policy making and of management. Nine kinds of riskwhich have great influence on governmental clients were recognized using the methodof expert investigation and were also be ranked using the method of Delphi techniqueand multi-dimension risk measurement. Then measurements for controlling risk weregiven aimed at risks which pose great influence on governmental clients.Studies show that among the methods for risk measure in the agent-constructionsystem, the5dimension measurement which takes into account probability, loss,unpredictability, unmanageability and the degree of information asymmetry caneliminate the influence of subjective factors on weighing to greatest extent and thus make the measurement results of risk more Persuasive. This method is an efficient toolto carry out the quantitative analysis of the risk of agent-construction programs. Finally,by carrying out the quantitative rank according to the importance of risk factors, themajor risks of government invested programs are within grasp.Various agent-construction program has its own characteristics, so when carryingout risk analysis and measurement, it should be concerned of their characteristics withreferring the method. The mode used to analyze the program risk is more than Delphitechnique and multi-dimension measurements which was mentioned in this paper andthe risk analysis of government invested programs will be more exact and reasonable ifmore methods can be introduced into the measurement of the risk factors.