Research On The Risk Management Of The Contractors In The International Construction Project

The contract of international construction project is an enterprise full of risks. Therefore the risk management is critical to them. Although our contractors have obtained a certain achievement, but comparing with other big international contractors there is a big disparity, especially risk management. So how to improve the risk management is a popular research.The risk management is a systems engineering, it should toe to the mark. To be clear about risk management, contractors should understand the exact process of this system. But at the present time, domestic and foreign researchers have a big difference in this aspect, and their descriptions are too general.Risk evaluation is one of the most critical processes of the risk management; its results directly affect the contractors' decision-making and their profits. As the project risks are fuzzy, uncertain and not exactly defined, fuzzy comprehensive evaluation becomes a new method to solve these questions. But, application of Fuzzy comprehensive evaluation is not perfect, for example the method of calculating relative weight needs further research.Firstly this article establishes a frame of the risk management process using the IDEF0 modeling method, to make the contractors know the risk management from the system view, and improve the efficiency of the risk management. Secondly, it summarizes the risk factors that contractors face in the international projects on the basis of reading correlation literature, and establishes a general risk assessment system. Then, using the Delphi method and locking to two specific contract markets : United Arab Emirates and the Singapore construction market, the article has carried on a non- open style investigation, and has established the corresponding risk evaluation index system. Simultaneously, to improve the insufficiency of the existing fuzzy comprehensive evaluation method, this paper establishes an improved risk evaluation model which introduces the fuzzy AHP method to count the relative weight of each risk factor, and it has fully considered the fuzziness of experts' judgment.Finally, the paper has carried on a real case analysis to the Singapore Edelweiss condominium apartment project. The case's result has proved that the risk assessment system as well as the improved evaluation model has a certain theoretical and practical significance.