Large Construction Projects The Whole Life Cycle Cost Risk Analysis

Along with the government increasing investment in infrastructure, the number of large construction projects becomes more and more. The whole life cycle cost-risk analysis appears especially necessary on account of time-span limitations of entire process construction cost and big construction items’characteristics, such as large scale of investment, long life cycle and extensive social impact.On the basis of previous studies, this text introduces theories about the life cycle cost and cost risk analysis, then divided the construction project whole life cycle into decision-making phase, design phase, construction phase and working and maintenance phase and abolition phase taking stages division method of the entire process construction cost management into account. Stand in the point of view of the whole life cycle cost theory, cost risk factors of each stage was identified and the relationship between them was clarified according to genesis mechanism of the life cycle cost. Risk analysis system of whole life cost of the large construction project was created and the analytic network process which is a mean of quantitative and qualitative was applied to cost risk analysis. We can identify the cost-risk factors of each stage effectively and appraise it’s influence on the whole life cycle cost with scientific and reasonable technical approach after stage partition of life cycle. This may make measures of risk control tackle critical issues and shoot the arrow at the target. This paper calculates the weight of each cost-risk factor after detailed analysis on a classic case.