Research On Risk Management For REWAT Substation Expansion Project

With the continued development of world economic exchanges and China's export-oriented economy, more and more Chinese companies become to participate in international engineering contracting projects. The total amount of China's international project contracting is in the rapid growth. With the rapid development in international engineering contracting projects, more and more project risks appear to the project contractor and bring tremendous challenges. As the project is an international project involved in many aspect, in project implementation it is not only to face risks in general engineering projects, but also because risks brought by the internationalize, which interact each other or even create new risks. Therefore, the status of the project risk management is directly related to project earnings. According to the status of China's international project contracting and risk management's important, it is necessary to study it in depth.in this thesis, an in-depth study of international engineering contracting project applications of risk identification, risk assessment and risk response ,which are the three important aspects of the project risk management, is carried out, which is used risk management process as the main line, based on the analysis of relevant literature summary, combined use of theoretical and practical methods, in accordance with international engineering contracting projects of their own characteristics and project implementation in all the circumstances and combined with international engineering contracting projects actual case,.In this thesis, China's international engineering contracting projects under the new situation is in summary and the research project risk management the current situation is analyzed, and discuss the risk management systematically. The intrinsic significance and the methods of the risk identification, risk assessment and risk response are studied separately. Meanwhile, analysis the application in a project of Risk identification, risk assessment and risk response from the actual situation according to REWAT substation project. In the risk identification step, complete the decomposition and refinement of risk and establish a risk source table, through the project WBS; establish the risk assessment form through the assessment of risk weighting, achieve the risk quantification assessment in international engineering contracting projects. On the basis of risk quantitative analysis, study the risk response strategy fatherly, analysis and summarizes the various risk response measures. Through the application of Risk management in REWAT project, practically validate the importance of risk management in the international project.In this thesis, the risk management approach in the analysis and state of the practical application of the project in REWAT can be good reference for similar projects in future and has some theoretical significance in risk quantitative assessment of the international engineering contracting projects. However, due to the complex risk of international engineering contracting, it is difficult to ensure the smooth implementation of the project by static risk management model, so there is still desired risk management research in the field of international project, which need to be more in-depth research and further improved, to make the risk management in international engineering contracting projects more effective by established more scientific method of quantitative assessment of risk.