Research On Risk Management Of W City Integrated Free Trade Zone PPP Project

Recently,China has witnessed robust growth of PPP projects.PPP model has winning wide favor from government departments for its advantages such as effective use of social wealth,filling-up of local governments’financial investment shortage,expansion of funds channels for projects,and declination of financial pressure on local government departments.However,compared with ordinary projects,the PPP model poses a variety of risks as a result of the uniqueness of PPP model,lax policies and regulations,and private investors and governments’ lack of professional knowledge about PPP model.Moreover,PPP projects mainly constitute of infrastructure and public service facilities for the public benefits.Thus,the extremely high risk and ineffective promotion of PPP projects may dampen the cooperative relationship between private investors and governments,causing damage to the people’s sense of gain.Therefore,researches on PPP project risk management boast both theoretical and practical significance.For starters,this thesis sheds light on the basic concept of PPP project,the theoretical basis of risk management theory and research status at home and abroad.Secondly,it preliminarily identifies the risks of W 市保税区 Infrastructure and Public Service PPP Project according to its actual situation in combination with analysis on the risk factors of domestic park construction and infrastructure PPP projects;Then opinions of expert group collected through the expert survey method are further taken advantage of to judge and screen out 24 risk factors,including the risk of breach of faith of governments.Thirdly,the selected risk factors are evaluated to determine the weight of each risk by comprehensively using analytic hierarchy process.Finally,the thesis proposes targeted risk prevention measures to deal with the risk factors with high weight,and delivers a summary.Taking representative engineering projects for case analysis,this thesis studies the risk management of PPP projects on the back of the theory of project risk management.This thesis points out a series of risk factors of PPP projects,and thrashes out risk countermeasures with a purpose to reduce the overall risk of the project,to safeguard the legitimate rights and interests of private investors and governments,and to ensure the smooth process of such projects.This thesis also seeks to provide reference for enhancing the risk management practices of other similar PPP projects.