Study On Infrastructure Construction Project Cost Risk Management At Early Stage

Infrastructure construction project has characteristics of high investment amount, large scale and complex construction environment, etc, which lead to the great risk of project cost in the early stage. To determine a reasonable construction project cost, the existing risk must be effectively managed, providing a reliable basis for cost control in the later period, the project cost risk management in the early stage just can achieve this goal. This paper will construct a infrastructure project cost risk management system, combining the infrastructure construction project’s characteristics of weak cost management and high risk in the early stage. The main contents of this paper are as follows:1. Analyzed domestic and foreign cost risk management research and infrastructure construction projects cost management problems in the early stage. Put forward to the necessity and importance of infrastructure construction project cost risk management and related theories, aiming at these problems.2. Analyzed preliminary cost risk, combining infrastructure construction project cost management features, mainly including risk identification and risk cost metric, which focused on the WBS-RBS risk identification method, risk measurement basis and risk measurement method’s selecting process.3. Built the risk cost measurement model, basing on the Monte Carlo simulation method. Selected the triangle distribution to fit the actual risk cost probability distribution. Then designed the Monte Carlo simulation measurement process, and analyzed the key techniques involved in detail, such as establishment of triangular distribution, random number generation, etc. Finally, verified the feasibility and practicability of the model, combining with examples, and evaluated the project cost risk.4. Researched infrastructure construction project cost risk control measures. Firstly, analyzed the attribute and content of construction project cost risk control, and then put forward some risk management strategies and specific control measures under different risk circumstances.The study will provide methods and technique support for the establishment of infrastructure construction project cost risk management system.