Research On Risk Identification And Evaluation Of The Owner In The Engineering Procurement Construction Of Power Transmission Project

Since the reform and opening up, China’s economy has been rapid development. Especially after joining the WTO, the exchange and cooperation between the countries of the world is becoming more and more frequent, and a large number of foreign capital, equipment, technology inflows into China, so does the engineering procurement construction (EPC) which is popular in developed countries. Compared with general contract mode, the EPC is responsible for the design, materials and equipment procurement and the construction of the whole project. The owner tends to control the entire project at a macro level, but the information asymmetry between owner and contractor, and the project supervision by the owners is not saticified and other factors will bring many aspects of risk. Therefore, the main content is to discuss the owner’s potential risk and risk control measures of power transmission project under the EPC mode.In this paper, the background and significance of this research are described firstly. Based of the former description, the EPC mode and the risk management of the project are briefly described subsequently. Secendly, combined with their characteristics, the owner’s risk is identified and classified, analyzed and evaluated. Through risk identification, the ten major risk factors of owner are found in the engineering procurement construction of power transmission project, and then, by the risk evaluation, it is clear that in a great deal of identified risk factors, the owner should focus on the following four major risks: contract management risk, preliminary design risk, business risk and economic environment risk. Finally, combined with the actual power transmission project, the results’scientificalness is verified, and based on the results of risk assessment, the risk management program and a scientific and effective system for risk monitoring are put forward.The innovation of this paper is to research on the owner’s risk identification and evaluation combined power transmission project and EPC mode. Through the owner’s risk identification and classification, the risk evaluation index system of owner in the engineering procurement construction of power transmission project is constructed, and then, the risk analysis and evaluation is operated by using analytic hierarchy process (AHP). Finally, the risk response and monitoring scheme is proposed through the case analysis.