Research On Risk Management Of Overseas EPC Project

The rapid growth of construction project contracting oversea by Chinese company is underpinned by three main development,the increasing co-operational investment between countries and areas targeted by The Belt and Road(B&R),the overall strength of Chinese companies has steadily raised,and the international vitality of Chinese company has enhanced.EPC(Engineering Procurement Construction)assemble designing,purchasing and engineering,becomes to be more welcomed by international market.The higher risk derived from such development results a stricter requirement for construction contractors.The question,how to manage the oversea EPC projects' risk,emerges and realised by Chinese company as an enormous challenge.The various ways of participating and high complexity of risks increased the difficulty for risk management and control for the contractors.Therefore,higher standard performances in technique resolving and cooperation management are demanded,in order to improve the competitiveness for contractors from an efficiency perspective.This research analysis the main risk for oversea EPC projects from an international contractor point of view,by citing case study of Port Gentil stadium construction project in Gabon.In particularly,how Chinese company response such risks.This paper takes overseas EPC project as the object,from the Contractor's angle,using corresponding management method according to this project.Based on the practical experience of Chinese contractors,this paper discusses the main risks and the possible solutions to the risks encountered in overseas EPC projects.This paper identifies and analyzes the risk factors that overseas EPC projects may face in the whole process from project bidding to project delivery,and suggests some effective means and measures to reduce risk.This paper uses overseas EPC project of Port Gentil stadium construction project in Gabon as an example,uses the experience and quantitative analysis methods to identify possible risk factors of the case,and gives corresponding risk control measures according to the risk factors at different levels.The risks will cause related losses,which contractors would not like to see it happen,but in the implementation of the project the risks are ubiquitous,so the ability of risk management determines the success of a project or even an enterprise.In recent years,China enterprises pay more attention to the problem of risk management This paper take whole consideration of chinese enterprise's engineering experience in the overseas market,set the construction of risk management system for identification,this paper will give targeted management methods for Chinese contractor's risk in the overseas market,can give some advice for Chinese contractor to build overseas EPC projects.