A Risk Management Area Transformation Urban Renewal Project In Suzhou Industrial Park

Along with the developing of urban construction and economies, urban renewal project emerge at a historic moment. Although urban renewal projects and real estate development projects share many similarities, they remain some differences. In addition to the construction and sales stages that general real estate development projects have, urban renewal projects also experience the stages of relocation and repurchase, renovation and reconstruction, and resettlement of residents. Today there is little research about urban renewal projects in China, therefore it will be of great significance to find a series of risk management approaches that are suitable for such projects.First, this paper chose the Update Project of Suzhou Industrial Park Zone A (Project A) as research object, identified the risk factors in various stages of the project based on the improved government-led urban regeneration mode, as well as on perceptual knowledge, historical experience and project process analysis, and found out the main risk factors of project A. Then it categorized these risks, made them into a risk scoring table to get expert ratings, assess them using qualitative and quantitative methods, combined with fuzzy comprehensive evaluation, and elaborate the risk response measures and their pros and cons in this case. Last, this paper proposed some suggestions about risk control and post-project evaluation of risk management in urban renewal projects, so it will be easier for people to duplicate the successful model in future projects.This paper attempted to summarize risk management experience of large engineering projects, analyze the risks in various stages of the urban renewal projects using case study method, and form a set of risk management approaches, which would be of great importance for investors in theory and in practice.