XT Old Town C Land Development Project Risk Management

Original overall model for urban land use planning has failed to satisfy people’s growing material and cultural needs with rapid urbanization since China’s reform and opening up. Under such background, primary land development projects emerge in cities. Different from other large projects, primary land development in urban areas cover special procedures such as residents’ movement, financing and government repurchase, etc. Besides, there is still a lack of research on such projects home and abroad. Thus, it will be of great significance for summarizing complete risk management methods for primary land development projects in urban areas.First of all, this paper introduces risk management process for primary land development projects in Chinese cities. The concepts and nature of risk, risk management as well as basic principles and procedures of risk management for such projects are illustrated. Based on the risk management system for risk identification, assessment, response and monitoring, all possible risk factors in different phases of such projects are summed up. Besides, major risk factors are analyzed and evaluated.This paper aims at Project C for transforming the old XT Town in an industrial park of Suzhou (hereunder referred to Project C). In identifying project risks, theories and practical experiences are drawn from experts of different fields, while main risk factors of Project C are summarized by brain storming. Then, risk factors are graded by expert grading methods. Meanwhile, risks of Project C are weighed and quantitatively evaluated in combination with fuzzy comprehensive assessment. Additionally, corresponding measures are proposed to handle and monitor risks of Project C according to summarized project risk factors and features of primary land development projects in cities. At last, the author hopes that the research outcomes of this paper shall be of certain referential value for risk management of these projects.