On Application Of Comprehensive Risk Management In Power Plant Corporate Management In China

ABSTRACT:The comprehensive risk management of power plant in China stays at the very early stage, so the researches on it are significant not only in theory but also in application. The comprehensive risk management is an essential tool for investment analysis of power industry and a common tool for the intra-management of generation corporate throughout all activities. It becomes an important development for the corporate management and also a criterion of capacity of corporate management, decision making and business target implementation.The research on risk management is sophisticated in western developed countries with improved systems built in their corporate while China just stays at the threshold of the risk management which takes a look of less standardization. With the advanced management experience from other countries, Chinese vanguards of corporate risk management have made some efforts on this area but few Chinese corporate apply comprehensive risk management to their corporate management. This paper will demonstrate the application of comprehensive risk management theory based on a complete case of Power Plant A in the south of China (Power Plant A for short).The organization of the paper is as follows:Part 1:to expatiate the background and significance of the comprehensive corporate risk management, the research done inland and overseas, and then raise the purpose, content and research method in this paper. Part 2:to introduce the definition of the risk management, the risk composition, the management way of risk, and compare methods and steps of comprehensive corporate risk management by comparison, which will be the ground for the subsequent research and the premise of analysis in this paper. Part 3:to analyze the problems of risk management and current situation of power generation industry in China. Part 4:take Power Plant A for example, to testify the result of comprehensive risk management of Power Plant A and raise solutions. Part 5: to affirm the maneuverability of comprehensive risk management in corporate management and propose what can be improved and done for future.