Risk Management Research Of Zhejiang Yisheng Petrochemical PTA Expansion Project

In order to further expand production capacity, improve technology, reduce production operating costs, while responding to the call of national energy saving, Zhejiang Yisheng Petrochemical Co. Ltd. plans to implement major project of PTA expansion. The project will provide protection for Yisheng Petrochemical Co. Ltd. to maintain its leading enterprise in the fierce competition in the PTA industry. After the implementation of the project, Zhejiang PTA industrial layout will become more reasonable. The project also has important implications for local economic development.From the project owner Zhejiang Yisheng Petrochemical company’s view,This paper makes a risk management study on PTA expansion project’s full life cycle from the project start to completion, using the project risk management theory and methods. First, the paper establishes the risk lists of the project’s various stages through the Zhejiang Yisheng Petrochemical PTA expansion project SWOT analysis to identify the risk of the various stages of the project, combining with PTA industry development status and the project’s characteristics. Then the article assesses the risk of the important events mainly using Analytical Hierarchy Process. Based on the risk value calculation of the project, the project’s overall risk assessment and the risk classification of each risk events are established. According to risk classification of each risk events, control measures and arrangement of responsibility of the risk management are developed. Finally appropriate risk monitoring program is designed, according to the organization of the Zhejiang Yisheng Petrochemical PTA expansion project.This article is a try of applying risk management theory to large-scale petrochemical project practice. The results of research provided specific ideas and methods for the overall risk management of Zhejiang Yisheng Petrochemical PTA expansion project.