The Risk Assessment Of The Municipal Comprehensive Utility Tunnel Base On PPP

Since the reform and opening up,China has made a rapid development in economic,and accordingly municipal infrastructure construction achieved improvements in urban traffic,urban energy supply,sewage treatment,urban afforestation,and many other aspects.Still,it fails to meet the growing demand of people,and there is a certain gap between China's urban infrastructure construction and the level suggested by the United Nations.To promote the construction of municipal public facilities,our government has taken active measures,and introduced more municipal construction policy.The urban infrastructure cycle is long,slow,and risky;therefore,private investors' enthusiasm is not as high as it expected to be.The main source of construction funds is from the central and local governments as well as domestic lending,and a small part from self-raised funds and foreign investment.In order to ease the pressure on government spending to address the gap in infrastructure investment funds,our Government strongly advocated BOT,BOO,BT,PPP and other new financing models.As the road zipper problem becoming increasingly seriously,the Chinese government began to advocate the construction of the municipal comprehensive utility tunnel.As a part of the urban infrastructure,municipal comprehensive utility tunnel project is a long cycle,large investment project,and obviously it could not be carried out successfully relying on the government's financial support only.To solve the funding gap,the government advocates using PPP mode for financing the construction of municipal comprehensive utility tunnel.Each financing model exists for its own applicability.PPP model not only introduced the social capital to participate in the utility tunnel project construction,reduce the pressure on the government financial,at the same time improved the work proficiency and work quality,form partnerships between the government departments and the private sector with joint adventure.Due to the huge investment,long operating cycle,and the uncertainty future earnings of utility tunnel,the risk of investments are very high.This paper aims to assess the risk of the municipal comprehensive utility tunnel project,and provide some guidance for the investors and project developers by studying and analyzing the risk management related theory knowledge,the PPP mode,and the risk level of municipal comprehensive utility tunnel.This paper will be divided into five parts:Part ?:The first part are about the background?significance of writing and the status of research on risk management at home and abroad and underground pipe gallery project.And on the main contents of this writing,the use of the basic method and the overall context of the paper to make a statement.Part ?:Based on the basic theories,this section expounds PPP mode in the following aspects:the basic meaning and characteristic of the PPP mode,characteristics and localization of utility tunnel,and detailed analysis of the feasibility of PPP mode in tunnel project,and major participants.Besides,this section introduces the relevant theories of risk identification,including the connotation,characteristics,content of risk identification,and several methods of risk identification.Part ?:This section constructs the risk index system of comprehensive utility tunnel project with PPP mode.This part applied the WBS-RBS method to identify the risk of Underground pipeline corridor project.The identify process also involves the project also interview survey with the experts of PPP project,and the underground pipe gallery.Ultimately,the risk evaluation index system is established with clear risk identification list.Part ?:This section built the AHP-fuzzy comprehensive evaluation model.Firstly presents an overview of the method of AHP and the method of AHP to determine the weight of the application procedure.Then it introduced the concept of fuzzy comprehensive evaluation and application procedures.Part ?:Case analysis.Base on the construct of risk evaluation index system and the specific risk evaluation model,this section identifies the risk of Liupanshui City's underground pipe rack project,and obtains the result that its risk level is general.Focuses on the analysis of the result of risk assessment,and gives suggestions.