Study On The Risk Management Research Of Infrastructure PPP Projects

As a new public-private partnership model, PPP (public private partnerships) is appliedto infrastructure projects, which overcomes many difficulties of traditional financing model,such as the shortage of public sector funding,the long life cycle,ineffective management,highrisks and other defects, while for the private sector to broaden the financing channels and gainbenefits. Continued using of infrastructures and shortage of PPP model, this model will soonbe introduced in PPP infrastructure projects between public and private sectors to achievewin-win situation. However, in China, the development of PPP model is not yet mature, riskmanagement is very vital to achieve the objectives of the entire infrastructure PPP project,public and private parties have the necessary to identify,assess,share and response to theexisting risks of infrastructure PPP project. Therefore, in order to achieve the smoothcommencement of PPP infrastructure projects, must be strengthened the risk management ofinfrastructure PPP projects.This paper from the theoretical foundation of infrastructure PPP model, firstly introducedconnotation, characteristics and basic organization of PPP model, basic connotation ofinfrastructure and associated risk management theory.Secondly, on the basis of theory and the summary of project case, recognizedinfrastructure PPP projects three levels of risk and a total of12major risk factors, which areco-risk, design risk, third-party risk, operational risk, construction risk, market risk, socialrisk, financing risk, natural risks, financial risk, legal risk and political risk, as well as majorrisk factors for these12segments out of the38kinds of possible risk factors, and analyzed thecharacteristics of these38kinds of risk factors the influencers and attributers.Then, based on AHP and risk factors, derived the importance Sort of risk factors co-risk,design risk, third-party risk, operational risk, construction risk, market risk, social risk,financing risk, natural risks, financial risk, legal risk and political risk. Finally, in response tothe risk of PPP infrastructure projects, this paper proposed the risk sharing、risk transferringand risk limitation measures.Lastly, this paper studies the risk management process of identification、assessment andresponse the risk, with a view of the risk management infrastructure PPP projects could have a certain reference in the country.