Research On Risk Management Under Cyprus EPC Project Of C Company

In recent years,The development of our country foreign contracting project industry is slowing down.In Africa and Asia market,Chinese contractors who have advantages of cost and technical,occupied a large of the market,However,international projects is full of various risks,especially for EPC contract projects,which generally have the characteristics of long construction period,high risk,and high requirements on enterprise comprehensive ability.All these are challenges for Chinese engineering company.Nowadays,the global economic depression,the continuously highsteel price,and the influence of the COVID-19 and other environment have significantly increased the uncertain risks,and Chinese international construction companysare facing more risks.Therefore,how to effectively manage and control the risk of overseas projects and promote enterprises to move forward with efficientmanagement has become a big issue for Chinese international construction company.From the perspective of international EPC engineeringcontractor,Firstly thispaper introduces the background and significance of international EPC project risk management research,briefly describes the concept of EPC general contracting mode,risk characteristics and classification,and the research of international engineering risk management at home and abroad.Secondly,this paper introduces the current situation and problems of C company’s international engineering risk management,and it explains the key stages of risk management of international EPC projects,including risk management planning,risk identification,risk analysis and evaluation and risk control.Take the risk management of EPC project in Cyprus as an example.Mainly mentioned Cyprus engineering project environment risk,project own risk and stakeholders of internal and external risk of these three aspectsby expert judgment method.Identify Cyprus project risk bythe qualitative and quantitative analysis,establish the risk register,identify the risk levelafter the risk assessment.In view of the risk registration based on the project,mentioned the risk solution measures,the risk transfer,risk mitigation,risk retention and risk avoidance measures.According to the actual situation of the project,make a brief introduction to the risk response measures adopted in the project.Finally,through the Cyprus project risk management existing problems,give some measures and advise for the international EPC project risk management.In summary,the article takes the Cyprus EPC project as a example,considering the actual situation of the project,analyzes the risk factors of the project,evaluates the project according to the risk evaluation model,calculates 34 risk factors,ranks 34 risk factors,and draws 4 higher risks,14 general risks and 17 minor risks.Finally,combined with the characteristics of the case itself,the risk prevention and control measures of high-risk factors are put forward in a targeted manner,which can provide a reference for the risk management of such projects.