Study On Risk Management Of Overseas Diplomatic Institution Building Projects

Chinese overseas Diplomatic Institution Compounds (DIC) serve as working and living places for diplomats , and also represent the international image and comprehensive national strength of China, and on some degree express chinese culture. The scope of project s are relative small, but plan, approval,design and construction of projects constitute a complicated system. Specially that projects manage department is in China and the projects are abroad, make more risks in the execution process.This article uses the professional Risk Management theory and combine the writer's practical experience,analyzes all potential risks throughout DIC building projects. On that basis, this article makes the conclusion that the Owner shall take all the risks and must be conscious of risk management, take suitable measure of risk management. Project evaluation and feasibility study is the fundamental to avoid decision making risks; Owner should enhance contract management, and chose excellent plan, design, supervision and construction teams to distribute risks rationally; Modern risk management methods shall be applied actively such as bond and insurance; For the special rule of the projects, information technology and standardized project management are advised to enhance to reduce subjective risks. The ultimate aim of risk management study is to choose a scientific project management mode,which is described in the follow chapters. And at last, the writer analyzed a real construction project-the now embassy project at H country.