| The Public-Private Partnership, otherwise known as PPP, is a method of management of project which is increasingly used in infrastructure construction projects in China. The risk management is of great importance in the success of such kind of projects. Through a case study of the Bird Nest Stadium Project for 2008 Beijing Olympic, this paperwork aims to explore the risks factors in the project, how the risks are allocated and shared effectively between public and private sectors, as well as the problems encountered in the risk management in China is PPP projects. On the one hand, a tow-round Delphi survey was conducted with the managers from both public and private sectors who participated in the management of this project to identify, rank and allocate the risks; On the other hand, an interview with an expert on the risk management of PPP projects in China was developed to discuss the present situation and the main problems of the risk management of PPP projects in China. In this typical PPP project, 44 risks were identified, among which 14 were allocated more to the public sector and 18 to the private, while the rest 12 were considered to be equally shared. 7 top high risks including Design Risk, Construction Delay, Construction Cost Overrun, Market Demand Change, Inadequacy of Knowledge, Organization and Coordination Risk and Foreign Exchange and Convertibility were identified and explained for this particular project. It was also found that compared with the previous research results of the risk management of PPP projects in China, risks were more transferred to the private sector in the Bird Nest Project; while compared with that in western countries, the risk transferring is still less successful. The research findings may contribute to the similar PPP projects, especially for the facilities' construction for the further Olympic Games.;Keywords: Public-Private Partnership (PPP), risk management, China, Bird Nest. |
