Research On PPP Project Risk Management Of Characteristic Town Based On Matter-element Model

Under the background of accelerating new urbanization and deepening economic transformation and upgrading in China,characteristic towns with the significance of new era labels emerge at the historic moment.As a new urbanization construction and the supply side structure reform in the mode of innovation and development,sustained and stable financial support is the characteristic town orderly construction and fundamental guarantee of effective development,cultivating and developing characteristic town despite the local government department level has the advantage of policy,but most of the local governments are faced with enormous financial pressure,to some extent,unable to guarantee the smooth implementation of the project.Therefore,how to combine the policy support of government departments with the advantages of social capital in terms of capital,advanced management experience and technology is the major difficulty we are facing at present.PPP model is an important carrier to promote the healthy development of characteristic towns,which can effectively combine the advantages of both public and private parties,and has been preliminarily applied in the construction of characteristic towns in China.However,due to the diversified operation mode and complicated operation process of PPP mode,as well as the characteristics of PPP projects of characteristic towns,such as long construction period,large capital input,long investment recovery period and numerous risk factors,the current PPP projects of characteristic towns are still facing high risks.Therefore,how to strengthen the risk management of PPP projects in characteristic towns has become the key to the successful implementation of the project and an important research topic to be solved urgently.First,in terms of risk identification,this research adopts literature analysis,case analysis,HHM method and expert investigation method of characteristic town of PPP project to conduct a comprehensive systematic risk identification,and then set up the final list of characteristic town of PPP project risk factors and risk evaluation index system,the index system of 30 specific indicators,including 9 government hierarchy of risk factors,7 market level risk factors and risk factors for 14 items level.Secondly,in terms of risk assessment,this study established a risk assessment model for PPP projects in featured towns based on entropy weight theory-a matter-element comprehensive evaluation model based on entropy weight method,anddetermined the risk level of the project according to the results calculated by the model.In the process of determining the index weight,the combination of subjective and objective weights is used to determine the index weight of risk evaluation.Thirdly,in terms of risk sharing,this study establishes the implementation path of risk sharing for PPP projects in featured towns,and constructs a bargaining game model between government departments and social capital parties,through which the proportion of public and private parties to bear the risks is determined.Finally,risk identification,risk assessment and risk sharing were carried out for the PPP project in the featured town of dushan,and according to the analysis of risk assessment results,corresponding risk response Suggestions were put forward for the seven risk factors of high level risk and higher level risk.This thesis takes the whole process of project risk management as the research perspective,rather than being limited to a certain level of risk management,in order to provide some supplements for the whole process of risk management of PPP projects in China's current characteristic towns.