| EPC, as a major contracting mode for international power plant project, is not only a key strategy that China companies compete to win global power construction market, but also the road to survive and develop itselves. International power plant EPC projects are characterized as the complex project because of its multi-regional and multi-stakeholder, extensive engineering discipline involved, long project cycles and high contract liquid damage etc. EPC general contractors often expose to great challenge and risks unexpected. China power equipment export companies have just groped their own way forward abroad in less than 20 years. They've made remarkable achievements but also suffer from painfull lessons. How to integrate risk management into project daily management activities, how to improve risk management and learning curves from lessons, these are the subjects China EPC contractors need to study and work out.In this paper, based on modern risk management theory, common risk root causes especially for power plant EPC projects are identified and analyzed. A systematic risk analysis and qualitative and quantitative assessment method is proposed suitable for power plant EPC projects. The paper also expatiates detailed risks and preventive measures against typical risks in execution of power plant EPC project and apply fuzzy comprehensive evaluation of risk assessment methodology along with a case study on an international EPC power plant project.In addition, this paper attempts to put forward the nature of the domestic project management company to build up a systematic risk management mechanism.Only by grasping risk characteristics and well application of systematic pro-active risk management mechanism and tools can we effectively manage risks. At all events do keep in mind the most basic principles of risk management that risk management should create value. The values in context to the risk management activities are the keys to success risk management and advocated by this paper. |
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