Research On Proprietors' Risk Management In The Metro Project Bidding

In recent years, with the rapid economic development and accelerating urbanization, metros of many cities in China are under construction or in the preparation for construction, beckoning a climax of metro construction. There exist various risk factors in metro construction, with some accidents bringing huge loss and social impact. From the perspective of project management, proprietors'risk mainly happens in the tendering stage after the establishment of project. Subject to various effects, the bidding itself contains many risks. When it comes to the construction part, these risks generated can get further amplified. Therefore, the process of project bidding lays a foundation for risk prevention. A strengthened risk management and control will bring maximum results with little effort. What'more, it ensures the smooth completion in quantity and quality. The risk management in the bidding process aims at achieving management objectives when the loss has yet occurred. It is of great social significance to study effective risk management in metro construction bidding process from proprietors'point of view. Based on the collection, reference reading and summary of substantial information domestically and internationally, this thesis combines the theory with practice, quantitative analysis with qualitative research, combing the related knowledge about metro, bidding and risk, learning from the definition of risk proposed by Chinese scholars adopted by the 2007 International Organization for Standardization (ISO) and mainly discussing the theory of risk management such as risk management origins, procedures and decision-making. In analyzing characteristics of tendering in metro construction and employing tool systems such as risk breakdown structure (WBS), this paper conducts a full evaluation on risks faced in the tendering stage in metro construction and offers corresponding risk management measures. Finally, the thesis discusses the risk of bidding documents and contract signing, proposes suggestions of increasing safety bid evaluation, and attempts to use artificial neural network model to predict the risk of construction bids. When evaluating the bids, the thesis also introduces Imbalance Bid Risk Identification Model to keep away from this risk. In comparison of the philosophy and methods in domestic and international metro construction risk management, and from the trend of economic globalization as well, it is an inevitable way for our metro construction to go for systematization, standardization and generalization. This thesis conducts a useful, systematic and overall study on proprietors'risk management in metro project bidding.