Research On Risk Management Of Expressway PPP Project

As an important component of our public infrastructure,expressways play an extremely important role in promoting the development of the national economy.At the same time,the construction and operation of expressways also require a large amount of capital investment,and the financial pressure of tens of billions at every turn brings a lot of problems to local governments.In order to further ensure the orderly construction of expressway projects,ease the financial pressure of local governments in the construction process,and explore diversified investment and financing methods and channels are imperative.Public-Private-Partnership,as a new financing mode,allows the government to cooperate with social capital,which not only effectively solves the problem of capital investment in highway construction projects and relieves local financial pressure,but also combines advanced management mode with the government’s credit advantages to further promote the transformation of government functions and promote the development and innovation of public product project management mode.Large-scale investment,long construction period,wide coverage and complex site management are the remarkable characteristics of expressway construction projects.Under PPP mode,these characteristics will bring certain risks to all parties involved in the project construction,especially investors.Only by identifying and effectively preventing risks can the real advantages of PPP mode be fully brought into play and the project construction be better completed.Therefore,starting from the perspective of social capital in PPP projects,this paper takes highway risk management under PPP mode as the research direction,combines the relevant theoretical basis of applying PPP mode in the field of transportation infrastructure construction at home and abroad and the relevant development practice of risk management,sorts out the basic research framework for highway PPP project risk management,and qualitatively identifies various risks in different stages of the project based on specific cases.On the basis of referring to the risk identification and evaluation methods commonly used at home and abroad,AHP method(analytic hierarchy process)and Fuzzy comprehensive evaluation method are selected as the basic method of risk analysis and evaluation,and the weight of each factor in the risk list is calculated,so as to realize the quantitative evaluation of each risk factor.This paper analyzes the results of risk management identification and evaluation of expressway PPP projects,pointedly points out the key issues that should be paid attention to in each stage of the project,provides corresponding countermeasures for risks existing in case projects,provides relevant references for similar projects in China,and has certain significance for promoting the further development and application of PPP mode in the expressway field in China.