Study On Risk Attitude And Risk Sharing Model For Stakeholders Of Transportation Construction In Jing-Jin-Ji

Since the “Prior Development of regional transportation construction” had been put forward in the Jing-Jin-Ji transportation integration plan,the local governments have been working together to build “the Jing-Jin-Ji on the track”.The Jing-Jin-Ji transportation construction projects involve three provinces: Beijing,Tianjin and Hebei.The lack of coordination in system and policies among these provinces can lead to an uncertainty in the regional transportation project,including feasibility studying,financing,planning,building and operating,which will cause the risks of the project very complex.These risks often run through the entire cycle of the project,involving many stakeholders,such as local government,investors,owners,financial institutions,design unit,construction unit,supervior unit,insurance unit,environmental protection department and local residents.The stakeholders involved are not only the risk bearers and winners of future earnings,but also the decision makers of the project.When it comes to dealing with the risks,the different attitudes of the different stakeholders and their involved interests make the risk management even more complex.Considering the Jing-Jin-Ji transportation project involves so many stakeholders,the construction of this project faces many risks,and therefore finding an effective way to identify risks and a reasonable risk-sharing model become crucial.This paper first identifies and analyzes the stakeholders of the project,study on their risk attitude during the construction of the project.Then,from the perspective of the stakeholders,this paper identifies the risk factors of the construction of the project by building a risk factor identification framework,and using questionnaires and risk significance index to analyze the possibility of the risks and grading their scales,identifying the key risk factors.These methods allow us to create a targeted list of risk factors.Finally,based on the stakeholders' attitudes toward the key risk factors,this paper presents a risk-sharing model for the stakeholders of the Jing-Jin-Ji transportation construction project.Identifying the risk factors from the stakeholders' perspective,both the accuracy and pertinence has been improved,so the risk-sharing model can be more helpful to the stakeholders to find what their responsibility are.The risk-sharing model and suggestions this paper presented can provide a guide in theory and practice,which allow the stakeholders of this project,especially governments and enterprises,to share the risks reasonably,and to provide support for the risk management work of the Jing-Jin-Ji transportation construction project during its construction.