Research On Risk Management Of Linghua Expressway PPP Project

As a public product,the construction of expressway mainly depends on the government.With the rapid development of our country’s economy,relying solely on government investment in construction is obviously unable to meet its huge capital needs.The introduction of PPP model provides an effective way for the source of expressway construction funds.In recent years,Gansu Province has successively started the construction of G316 Lianghui,G215 Liudun and other expressway projects by using the PPP model,bringing good economic benefits to the local area.However,the process of PPP mode is complex,and expressways have significant characteristics such as long construction duration and large capital demand.After the introduction of PPP mode into the field of expressways,a relatively complete risk prevention and control system have not been established,resulting in certain problems in project construction and operation.Therefore,it is necessary to strengthen the risk management of expressway PPP projects.This dissertation takes the Linghua Expressway PPP project as the research,adopts the method of qualitative and quantitative combination,conducts in-depth research on its existing risks,and proposes specific risk countermeasures.First of all,based on the research results at home and abroad,the concept of PPP model and project risk are defined,and the theory of risk management and life cycle are discussed,which laid the foundation for the research.Secondly,used the literature research method and the Delphi method to identify the risks of the Linghua Expressway PPP project,and identified 24 risk factors including financing risk,approval delay risk,and failure to achieve investment return risk.Thirdly,the risk evaluation index system is constructed by the AHP method.The weights of risk factors are calculated and ranked,and the main risk factors are identified,and a fuzzy comprehensive evaluation model is established to determine that the risk of the Linghua Expressway PPP project is at the V4 level.That is,the risk is relatively high.Finally,according to each risk factor,we have formulated the concrete measures to deal with the risk,and guaranteed the construction and operation of the project.