The Comparative Study Of Theories On Mechanism Of Construction Project Risk

With the continual improvement of science and technology, and the gradualrealization of global economic integration, the competition in the market are becomingincreasingly serious, the scale of projects are larger and larger and the management ofthe technology and organization are more and more complex. It brings more uncertainfactors and risk in the course of construction. Throughout the whole process of theproject and comprehensive risk management, the primary task is to understand theformation mechanism of risk on project fully. In academic circles, there have been a lotof theories about this subject, including the accident causal chain theory andinformation asymmetry theory. So far, in the whole academic field, many people havestudied these theories, but fewer people compared these theoried and people have neverstudied systematically how to choose theoried according to different risks. However, theefficiency of the method directly relates to depth and breadth of the research anddepends on the match between risk and theories as well, when studied the formationmechanism of risk on projects,This paper, taking the risk management of construction project as a platform,elaborated on the origin and the meaning of the accident causal chain theory andinformation asymmetry theory and concretely analized the common causal link inconstruction project as well as the urgent information required by each participant ofconstruction project. Firstly, extend the accident causal chain theory from the aspects ofquality risk, duration risk, and cost risk, and propose the analysis of construction projectrisk based on this theory that the primary task is to find logical causal connectionsbetween events by the means of fault tree analysis, causal analysis chart, network planning technique, flow chart and so on. Secondly, explore the construction project riskfrom the angle of the owner and the contractor respectively, when one’s own side suffersthe disadvantage of the information, such as the opposite side’s performance capabilitiesand performance credit, who pursuits of the biggest interest and does harm to one’s ownside. Finaly, make sure of the differences about their theoretical applications, which aremainly embodied in application characteristics, application stage, the difficulty ofapplication, means to ensure its effictiveness, and blind spots in the application, bycomparing two theories in their origin, levels of analysis, points of view, methods,requirements of ability, precision of the conclusion and so on. Based on thesedifferences, explore the optimization application and integration of methods, andpropose the concept of theories set initially in order to study them in depth and toprevent abuse or use in inefficiency of these theories. Make sure these theories morescientific and targeted in the process of application and then analyze the constructionproject risk in greater depth.