Research On Risk Management Of The Beijing-Moscow High-speed Railway Project

In recent years,the rapid growth of Sino-Russian trade has promoted the cooperation and development of transport between the two countries.In this context,in 2015 the Chinese and Russian governments jointly proposed the initiative of a high-speed railway construction project from Beijing to Moscow.The Beijing-Moscow International High-Speed Rail Project is among the largest infrastructure projects in history.At the same time,the project has many uncertain elements: the engineering is very complex,the costs are high,and the life cycle is very long.The purpose of this paper is to undertake an in-depth study of the implementation risks associated with the Beijing-Moscow International HighSpeed Railway Project from the perspective of foreign engineering contractors.This paper will divide the risks of the project into nine main aspects: political,economic,natural environment,social,legal,engineering technology,management,capital and contractual.These aspects will be used to investigate the project’s risk factors.At the same time,on this basis(this paper)will carry out a Risk Identification based on Risk Breakdown Structure and construct a Risk Evaluation Index System.And a qualitative and quantitative risk evaluation will be carried out based on Fuzzy Analytical Hierarchy Process.and then suggest a risk management proposal for foreign engineering contracting on the Beijing-Moscow International High-Speed Railway Project.In the course of the research,I mainly used related theoretical research and pra ctical experience analysis: through a large number of domestic and foreign sources and practical experience analysis of similar projects,combined with the purpose and content of international project risk management,this paper clearly defines the practic al significance of the research.In addition,the characteristics of Beijing-Moscow International High-Speed Rail Project and its external environment are studied are through a combination of qualitative and quantitative risk analysis.A list of risk factors for the project is established which makes make clear which risk factors are the most important based on the Fuzzy Analytical Hierarchy Process and ranks the risks to the project in order of importance.The theoretical significance of this paper is that it furthers the study of the characteristics of international projects and the risks that international high-speed railway construction projects may face,as well as to enriches the relevant international high-speed railway project risk management theory.The practical significance of this research is that it clarifies the risks that the foreign engineering contractors may face in participating in the construction of the Beijing-Moscow International High-Speed Railway and identifies the most serious of these weak points,so as to provide basic data support to its project risk management decision makers.Furthermore,it will provide risk management reference to enterprises involved in the construction of international projects in China and Russia.The Beijing-Moscow International High-Speed rail will be the first high-speed railway in Russia and will be the longest high-speed railway in the world.At the same time,the Beijing-Moscow International High-speed Rail Project is the largest project in the history of Sino-Russian cooperation.Based on this,the research of for paper breaks fresh ground by studying the potential problems of Sino-Russian cooperation in this project,and proposing a program to respond to these potential problems.