Study On Risk Management Of AB Expressway Under PPP Model

Over the past half century,the rapid development of highway construction has played a key value in promoting economic growth.Currently,the total mileage of highways in China has exceeded 140,000 km,which is the first in the world.As China’s economic restructuring faces obstacles,the issue of how to improve the effectiveness of the use of funds for large-scale infrastructure such as highways has become a hot topic.The PPP model(Public-Private-Partnership)to attract social capital to invest in the construction of highways has become an effective solution to the problem of capital utilization.However,the development and application of PPP model in China is still in its infancy,and the systems and legal system lack soundness,and the PPP model has the characteristics of large capital investment,long project construction time,high complexity of structure,and difficulty in project management,so the risk control of highway projects under PPP model has become a hot topic of research.Based on this,this thesis takes the perspective of the social capital subject in PPP mode as the entry point,firstly,by adopting literature method,hierarchical analysis method and fuzzy analysis method to gradually screen and identify various types of risks in different periods of the project and clarify the risk list of the project,finally the risk list is mainly composed of five parts,which are the pre-project period,project construction period,project maintenance and operation period,project Secondly,we use hierarchical analysis and fuzzy comprehensive evaluation method to carry out weight calculation for each factor in the risk list,and compare the risk of financing is the highest weight among all indicators.It can be seen that in the preliminary project stage,financing risk and land acquisition are among the top-ranked risk items,and then the current problems of risks at each stage of the project are analyzed,and more attention needs to be paid to related issues.Risk management measures,highway construction risk management measures,PPP participant management measures,PPP operation period management measures,etc.Taking the AB expressway under PPP mode as an example,this thesis discusses the possible risk elements in its construction and proposes corresponding risk management countermeasures.It ensures that it can be effectively financed and try to control the risks and avoid them to further promote the success of the project construction.In addition,this study can finally reduce the comprehensive project risks,promote the joint progress of government and social capital subjects,create a sound risk prevention system,and can provide a reference for better implementation of the PPP model for the same type of projects in China under the same conditions.