Research On Risk Investment Management Of Highway Project

The highway industry in China has had rapid development since 1988, and has made remarkable achievements. Government investment, issuing bonds, foreign venture, BOT and other investment modes have also presented. According to the planning process in “the12th Five Year Plan", China’s expressway will remain the key development period of expanding road network density in the next ten years. But the investment risk management of expressway in our country has not form into system. Risk management in the practical application has the lack of attention. Combined with the characteristics of highway project of large scale of investment, long period operation, high difficulty in construction and many factors of uncertainty, the investment benefit of many projects have showed a declining trend.In order to adapt the diversity investment mode of the expressway, improve the decision-making level of the project investors, and investment benefit. This article stands on the perspective of highway project investors, makes a systematic research on the investment risk management of expressway construction project. The paper first summarized highway project investment model of domestic and international, then proposed the main problems of the highway investment in China. This study used questionnaire method, selected managers and senior staff of highway enterprises as the research object. This study chose the perspective of the whole life cycle of the project,recognized risk factors from the macro and micro level of the highway project investment,constructed evaluation index system of the highway investment risk. Based on the consideration of the systemic risk factors, constructed a structural equation model, by correcting the model, to identify the main risk factors of influence of the highway investment, and analyzes the mechanism of each of these risk factors. In order to validate the necessity of investment risk management, this paper studied how risk management ability of expressway enterprises effected project risk identification. The study found that the effective enterprise risk management can make the macroscopic risk transfer to micro risk.Finally, in order to improve the ability of risk management of expressway enterprise,this article established evaluate model of the ability of risk management of expresswayenterprises based on the support vector machine(SVM), and put forward the countermeasure proposal to promot risk management ability of the enterprise.