A Study Of Analysis And Countermeasures On The Key Risk Of Power Station Project In The Vietnam Vinh Ninh

With the accelerated pace of economic globalization, Chinese enterprises haveundertaken a lot of international power plant projects, these project have high proiftmargins and the risks are equally huge. Many Chinese enterprises have sufferedsignificant losses due to inadequate attention to risk management. The paper appliesthe project risk management theory to study the key risk identification and responseto Vietnam Vinh Ninh power plant from the perspective of the general contractor ofthe project. The paper’s results can provide a basis for project management decisionsand can help managers to prevent risks，and it is also conducive to the achievementof project objectives.This paper identified the risks of the power plant project ifrstly and found atotal of seven categories of risk factors which included40subjects. Secondly，byusing risk-weighted method based on risk ranking matrix, this paper assessed the40risk factors and then identified12key irsks. Thirdly，according to the principle ofresponse measures, each specific response of the key risks are considered frommultiple perspectives. Finally, through the establishment of the organization of riskmanagement, risk management responsibility matrix, risk monitoring and specificrisk control actions, this paper achieved the monitoring of risk. Based on the above,the author made some suggestions.Study reached the following conclusions:First, the study found, the most suitable method for the international powerplant in EPC Project risk identification is the "common sense，experience andjudgment of law”， and this method can identify risk factors as much as possible.This paper identified a total of40risks factors and12key risks.Second，the general contractor should focus on the ones which have a low riskprobability while the loss is high，such as political risk，environmental risk. Makethe risk contingency plans in advance and put forward practical response measures inthe plan in order to minimize the damage once the risks appeared.Third，the tender stage should take full account of the major risk factors. Thegeneral contractor have chance to negotiate with owner.Once Contract is signed，general contractor should passively accepting the risks，even the high loss. So，atthis stage, the general contractor must conduct serious research in a timely manner to identify the responses.Although the different international projects have different risk factors, but itsnature has a lot in common, the project’s risk management practices can provide avaluable reference for other similar projects.