Research And Countermeasures On Investment Risk Of Large Infrastructure Projects Under PPP Mode

As China's new urbanization process continues to accelerate,the state is paying more and more attention to the construction of public infrastructure.Local governments are responding to national policies and vigorously developing infrastructure construction.This will undoubtedly bring certain economic pressure to the government's finances.A new type of financing that introduces social capital into public projects can reduce the government's financial pressure on the one hand,and introduce market-based management techniques on the other.However,due to the many participants in the PPP model project and the long construction and operation cycle,some risk factors will inevitably be added.In addition,such projects are related to the national economy and the people's livelihood,involving transportation,medical care,hydropower,education and other fields.The public will maintain a high degree of attention to the progress and quality of the project.If the project fails,it will undoubtedly have a very bad social impact.Therefore,the risk management of PPP model projects is the key to the success of the project.It is of great theoretical and practical significance to do a good job in risk assessment of PPP model projects.This paper selects the PPP model project risk as the research object from the perspective of investors,and conducts risk management research according to the steps of risk identification,risk analysis and risk evaluation.The main research contents are as follows:1.Based on the PPP model related theory and infrastructure related theory as the basis of research,the advantages of PPP model project and the definition of PPP model project investors are expounded.The characteristics of the PPP model project risk are introduced.2.Identify project risks and classify them into five categories:political policy risks,economic risks,environmental risks,project construction risks,and management risks.3.Using the analytic hierarchy process,classify these five types of risks into the criteria layer in the investor risk assessment system table,and then select the 32 risk factors under the criteria layer in the form of questionnaires through the expert survey method.The 20 risk factors serve as the target layer in the risk assessment system table.The data obtained from the questionnaires were processed using SPSS software to ensure the scientificity and practicability of the data.4.Comprehensively consider the various methods commonly used in risk assessment,and select the fuzzy mathematics evaluation method.Based on the risk evaluation system table,the PPP risk evaluation model is constructed by the establishment and calculation of the three-level fuzzy judgment matrix.5.The PPP project of road reconstruction projects such as Qiaobei Road(including interchange),Duanzhou Road(including Gongnong Road Interchange)and Tianning Road in Duanzhou District of Zhaoqing City was selected as a case,and the corresponding risks were constructed through questionnaires.The evaluation system table calculates the weight of each risk indicator,and then through the construction of the PPP risk assessment model,the grade of the project risk is calculated and the targeted risk countermeasures are given.This paper establishes a risk evaluation model through risk management steps such as risk identification and risk assessment,and improves the theoretical research on risk management of PPP model projects in China,aiming to promote the application of PPP model in infrastructure projects in China,and to give such projects Risk management provides a solution.