Research On The Risk Management Of Urban Rail Transit PPP Project In Construction Enterprises

Along with the rapid economic growth and constantly expansion of urban size,the traffic congestion has become one of the common diseases in Chinese major cities.Based on that,urban rail transit(URT)has developed rapidly,for it is of large capacity,fast speed,more secure and many other advantages.However,the URT projects usually call for enormous investment,yet government financial resources are limited as usual.Therefore,as a new pattern of investment and finance,the PPP mode inspire high hopes by the government.URT PPP projects usually have large-scale investment,long period,wide range and many effect factors,which make the related construction enterprise face more risk factors than general projects,so it is imperative to improve the risk management capabilities of construction enterprises.Through literature survey,data collection,and expert questionnaires,the status of risk management of construction-invested URT PPP projects from the aspects of institution setting,regulation construction and operation flow is studied in the thesis,and then,an expert interview was conducted to investigate and summarize the problems existing in the risk management process of construction companies,and the internal and external causes of the problems were traced based on expert interviews.In order to find a reasonable solution,this thesis studies the risk management experience of excellent foreign construction companies represented by German Hochtief and French Wanxi,and summarizes the enlightenment that can be used for the reference of our construction companies.Guided by the theory of comprehensive risk management,this thesis puts forward suggestions for improving the risk management of URT PPP projects from four aspects:comprehensive risk management system,risk management regulations,risk management organization settings and talent development,risk management method and risk management effectiveness evaluation.First,the comprehensive risk management framework developed by COSO is used to improve the risk management system of construction companies.Secondly,this thesis studies the composition and development requirements of the risk management system.Thirdly,it studies the institutional setup and personnel training of construction enterprise risk management.Next,based on the main risk management process,management methods that are more consistent with the concept of comprehensive risk management are proposed,such as the risk identification method of the WBS-RBS-EP structure,the risk comprehensive evaluation method based on multi-dimensional characteristics,and the information management method of risk management.Finally,the effectiveness evaluation of the risk management system was also studied in this thesis based on the COSO risk management framework.The thesis aims to provide reference for improving the risk management of URT PPP projects invested by construction companies based on comprehensive risk management theory.