Research On The Risk Management Of EPC Project

EPC is a typical general contractor model. Now it is adopted only in a few types of project such as chemical industry and electric power industry, and it is the representative of Intensive and efficient mode and development direction of China's construction industry. This model covering the whole process of implementation of the project, including design, procurement and construction, so EPC model have larger risk than other models, general contractor assumes the engineering design, procurement, and other more risk in addition to construction risk. In EPC model, While the improvement of profit and the strengther of contract power, more risks will follow the general contractor.In this dissertation, the writer used systemic thoughtway to analyse the risk, recurring to some engineering practice. In conclusion, the writer brought forward the risk list of EPC, Interrelated Tree Method model of EPC and the replying methods. Under the base of deep analysis of EPC model, the writer did research on the risk management of EPC from three aspects: diversity, complexity and whole process.This dissertation depictions four kinds of risk coping strategies, risk avoidance, risk transfer, risk mitigation and risk retention, and they were arranged in order of priority. Risk avoidance and risk transfer were adopted for eliminated risk, risk mitigation and risk retention were adopted for eliminated risk for risk that can not be eliminated.Risk management is the main content of EPC project management, it is directly related to the success of EPC projects throughout the whole process of project management. Risk management is the ensuring of achieving of project management object, project management is the prerequisite for effective risk management, the two are inseparable, and only the organic integration of the two projects can contribute to optimization of the project result.