| With the advent of the worldwide "Post-Covid-19 Era",and encouraged by National Policies such as "Going Out Strategy" and "One Belt and One Road",more and more Chinese Engineering Contracting Companies have joined the Nigerian International Engineering Market to undertake Engineering Projects as Contractors.As the bond of the rights and responsibilities between the owner and the contractor,the terms of contract are an indispensable part of International Engineering Projects,the fundamental basis for the construction of the projects,the basis for ensuring the smooth development of the projects and the realization of the expected goals.Due to the large volume of international engineering projects,the existence of numerous uncertain factors,and the influence of the complexity of the Nigerian overall situation,the contract risk of engineering projects in Nigeria is far greater than that of domestic projects.Therefore,correctly identifying,evaluating and responding to contract risks is crucial for the Contractors entered in the Nigerian Market.Firstly,this paper introduces the connotation and characteristics of international engineering projects,summarizes the relevant theories of risk,contract risk of international engineering project and risk management,and introduces the definition and application steps of Fuzzy Comprehensive Evaluation Method of Entropy Weight based on the relevant theories of entropy weight method and fuzzy comprehensive evaluation method.Secondly,an initial list of risk indicators is established through literature research and survey analysis,and the risk indicators are revised and improved based on the opinions and suggestions obtained from expert interviews,so as to establish the Contract Risk Evaluation Index System of Nigeria Engineering Projects,which covers 5 primary contract risk indicators and 21 secondary contract risk indicators.Then,combined with the case of the Bakolori Irrigation Project in Nigeria,15 valid contract risk scoring sheets are obtained based on the Delphi Method,and the Fuzzy Comprehensive Evaluation Method of Entropy Weight is adopted to analyze and evaluate the contract risk factors of the project.The evaluation results show that two primary contract risk indicators,namely Economic Risk and Management Risk,are in the Risk Grade of Higher Level,and the overall contract risk of the project is in the Risk Grade of Higher Level,which is in line with the reality of the project.Finally,the corresponding Contract Risk Response Methods and Solutions are proposed to reply the various secondary risk factors in the Contract Risk Evaluation Index System.In addition,the application effect of risk response is analyzed and evaluated based on five Higher Level risk factors of Bakolori Irrigation Project,including Epidemic Prevention and Control Risk,Security Risk,Exchange Rate Change Risk,Inflation Risk and Liability Boundary Risk.It is confirmed that the various contract risk response methods and solutions proposed in this paper can directly or indirectly save costs and improve benefits for the Contractor’s performance,and can provide reference for the engineering contracting companies who execute engineering project in Nigeria. |
