Research On Evaluation Of Investor’s Risk Of Expressway Under PPP Mode With JH Expressway Project As An Example

Expressway as the national important infrastructure is facing the contradiction of the rapid development of society and shortage of expressway facilities, the demand of expressway project investment and shortage of construction funds, etc. PPP mode can actively introduce social capital, reduce the pressure on government finances, transfer the investment risk, but the characteristics of expressway project are long cycle and more uncertain risks. Effective risk management is the key to ensure the project smoothly. The purpose of this paper is based on the related theory of PPP project and risk management. From the perspective of establishing the project investment risk evaluation index system, the paper combined with case which is JH expressway project, and used the matter-element model to research deeply on the investment risk of expressway project under PPP mode.This article firstly discussed the domestic and foreign scholars’studies on the risk of infrastructure projects under PPP mode, and introduced the definition, classification, connotation of PPP mode and the orientation and main characteristics of expressway projects, then focused on research of the interest of investors and the investors’risk characteristics of expressway projects under PPP mode. Secondly, this paper discussed the basic theory of risk identify, and got the final risk identification list through literature review and the interview survey. To get a more accurate risk structure system, we combed the internal structure of the risk factors with the help of questionnaire survey method and established the investment risk evaluation index system of expressway project under PPP mode. Thirdly, we determined the risk evaluation method and analyzed the applicability of the method. Then this paper introduced the process of quantitative processing of risk evaluation index and the steps of matter-element model. Finally, from the perspective of the investor, this paper combined with JH expressway project as a case, determined the indexes and weights through questionnaire survey. Then determined the project risk level by using matter-element model, and put forward the corresponding countermeasures and suggestions.