Risk Management Research On EPC Project

At the beginning of 1980 s,the EPC(Engineering,Procurement and Construction)model was introduced into China,which has the characteristics of low cost,high quality,short construction period,good economic benefit and so on.In this mode,the general contractor services from design,procurement,construction,and delivery of the project.And a fixed price contract is signed between the contractor and the owner which means that most of the risk shall be borne by the contractor in the project.Then,it's a problem that must be solved for the contractor to deal with the impact of various factors in the whole process of the project.However,the risk management of our country's project construction enterprises which exists a number of problems is still lack of enough understanding.Therefore,in order to ensure that the enterprises in our country are recognized,they must improve the risk management ability in international projects.This thesis is based on the EPC general contracting model and the international railway EPC project risk management model.Taking the risk management of EPC project in Hanoi as an example,we took the research from the risk identification,risk assessment,risk response and so on.The main research work is as follows:(1)By analyzing the operation mode of EPC project and the risk management system of international railway engineering project,we got the methods of risk identification,risk assessment and risk response of the international railway engineering project.(2)By using the methods of case analysis,literature research and expert investigation,we carried on the risk identification to the international railway EPC project and established the risk identification list to the potential risk factors.(3)By using analytic hierarchy process,we got the subjective weight of each layer evaluation index.And then,we used the entropy weight method to get the subjective weight as the attribute matrix,and established the entropy model of the expert's own weight.Then,the subjective weight and the objective weight were com-bined and the triangle whitening weight function was established.Finally,by using the fuzzy evaluation to evaluate the risk index,we got the comprehensive risk grade of the international railway EPC project.(4)Based on the experience of the author in Hanoi light rail EPC project,in? combination with the actual case,we made an empirical study which would make us know the effect of risk management of international railway EPC project.Based on the results,the thesis found out the key risk factors of the project risk management and put forward the appropriate countermeasures for the EPC project of Hanoi light rail.At the same time,this paper provides an effective way to resist risks in the construction process of the international railway EPC project,which has an important guiding significance for our country to carry out the risk management of EPC project in the world.