Research On Risk Management During Bidding Stage Of International EPC Turnkey Project Of NW Company

In recent years,thanks to the comprehensive and deepening implementation of basic policies such as "Going Abroad" and the "Belt&Road",Chinese contractors have made breakthroughs in overseas markets.However,the frequent occurrence of some failure cases also indicates that the risk management capabilities of Chinese contractors still need to be improved.Through market research,it is found that the EPC turnkey mode is currently a relatively common form of project contracting,which arises a variety of risks and great influence,and exists in the whole process of the project life cycle,including the early bidding stage.Currently,there are a large number of Chinese contractors participating in international EPC projects,but they all have insufficient experience.Especially in the bidding stage,problems such as poor risk awareness and lack of risk management ability are extremely prominent.If risk management work is not done well during the bidding period,the construction period,cost,and quality of the project implementation stage cannot be guaranteed,and the contractors will face significant risks and challenges,not only damaging their reputation,but also causing economic losses.Based on the current risk management situation of NW Company,this paper studies the risk management in the bidding stage,which is relatively easy to be ignored by NW Company in international EPC projects.Firstly,it reviews the theory of international EPC turnkey mode,risk management,international EPC turnkey project risk theory,and research status of project risk at home and abroad.Then,it introduces the current situation of risk management of NW Company,and points out the shortcomings of its international project risk management;Subsequently,the risks related to the international EPC project of NW Company are analyzed,and nine types of risks in the bidding stage of the international EPC project are summarized;Next,it elaborates the principles for establishing a risk assessment system,namely,the principles of simplicity,efficiency,comprehensiveness,and scientificity.It also comprehensively expounds the four widely used risk assessment methods that are currently popular and recognized by people,and their applicable scope;In terms of risk control,a brief introduction is given to the four commonly used risk control methods,and then corresponding solutions are determined through in-depth exploration based on the characteristics of nine types of risks identified in the bidding stage;Subsequently,taking a substation EPC project in R country as a case study,the risk management situation in the bidding stage are studied and analyzed,a suitable risk management system is proposed,and the practicality of the risk identification,evaluation,and control strategies summarized in the article is tested,which has certain reference significance for NW Company to participate in the bidding and bid negotiation of international EPC projects in the future.Finally,its reviews the full text,sorts out the conclusions,and makes a good outlook for the future.