Risk Allocation Research Towards PPP Mode In Intercity Railway

With the development of "planning" in 13th Five-Year the introduction of modern comprehensive transportation system, China's infrastructure construction, especially the construction of intercity railway to speed up the pace. Government departments to use PPP financing model to introduce social capital, both to reduce the financial pressure on the government to meet the financing needs of intercity railway construction, but also to meet the needs of social development. The private sector has advanced project management experience and technology, the introduction of social capital can greatly improve the quality and efficiency of infrastructure construction. However, intercity railway project under PPP mode of large investment, complex projects, participation in the long period of construction,there are many risks in the whole project life cycle, so the risk of intercity rail projects under the mode of PPP share is reasonable, the adopted method can effectively promote the parties involved in trying to control the risk, largely determine the success of the project.In this paper, the construction of the project risk sharing model from the inter-city railway project concession agreement stage. Based on the relevant literature and cases, 60 main risk factors are obtained by statistical method. In the process of risk identification, the statistical method is used to select 50 main risk factors mentioned in the literature for more than 5 times. By using the method of expert investigation and L.Y.Shen, we can get the influence degree of risk factors, and then calculate the risk factors which have the greatest probability of occurrence and the greatest degree of harm. Then, using the Pareto rule to get the cumulative contribution rate of risk factors, we get 37 key risk factors, the 7 important risk factors and the secondary risk factors of the PPP intercity railway project.In the process of constructing risk sharing, risk risk factors PPP model of intercity railway project risk bear the main risk, the government and the private sector for a single two party bear bear: single and multi subject of risk sharing, constructing penalty function and risk control cost compensation function and risk control model of incentive reward function in improving the enthusiasm of the management and control of risks, and to avoid the risk to the government and the private sector; risk sharing, using game analysis method to obtain the shared proportion, and share ratio and the discount rate.