Research On Risk Management Of PPP Construction Projects

By analyzing the history of China’s development of PPP model,although this model is still in the initial stage of development in China,PPP model is still a key means to solve the financing problem of infrastructure construction at the moment.From 2015 to the present,the scale and quantity of PPP models applied in China’s basic construction projects have increased rapidly.According to relevant experience,compared with other types of operational forms,the project risk-taking characteristics of the PPP model have obvious advantages.By using PPP model,the effective cooperation between government and social capital has been realized,and the government’s financial pressure has been eased to a large extent.The overall cost of project can be effectively reduced by a partnership of shared benefits and shared risks.However,PPP projects need to coordinate the interests of more participants.There are many uncertainties in the construction and operation of projects,which greatly increases the risk of PPP projects.Lots of PPP construction projects have caused project stagnation and default due to lack of risk management.Highway PPP project risk involves various stages of project construction,each participating entity,and there are many risk factors and interaction effects.The systematic study of the risks and response of highway projects under PPP mode is an important guarantee for the successful implementation of the project.Based on the review of relevant literature,this paper uses a combination of qualitative analysis and quantitative analysis to select the X highway project as an example to carry out risk research on the X highway PPP project,and build a project risk evaluation model based on the fuzzy comprehensive evaluation method;The weight of each risk element is used to evaluate the severity of the primary risk factor and the secondary risk factor according to the model,and finally form the risk factor level.Finally,it puts forward countermeasures and suggestions for dealing with risks,and provides guidance for the risk management of X roads using PPP mode operation.Through the empirical analysis,the model is proved to be feasible and practical,and it can be used as a reference for other highway PPP projects.