Risk Management Study Of Kazakhstan IPCI EPC Project

Project risk management is an important element of project management subject and a new subject developing based on combination of traditional management ideology and theories of modern science and technology. Project risk management is to identify and analyze uncertain factors that impact project progress and success or failure of project and develop relevant countermeasures, including extending as far as positive effect conducive to project and reducing the negative impact from uncertain events. Uncertainty factors of project are correlated and perplexing.Along with Chinese engineering company’s entering the international project contracting market gradually, proportion of international general contract projects in all projects undertaken by Chinese engineering companies is gradually rising, however, contract dispute and huge losses report are keeping increasing. Therefore, the study of risk management for international general contract project is crucial in expanding overseas engineering market and promoting risk resistance ability of Chinese enterprise. In this paper, with reference to mature international risk management theory and project management method, on the basis of theoretical research and combining with risk management planning and practice in Kazakhstan IPCI project, I put forward risk management theory and ideology for implementation of project in Kazakhstan for Chinese engineering company, which will hopefully provide assistance and experience for Chinese engineering company to develop overseas project contract market, enhance risk control and management and control ability and strengthen profitability.Firstly, according to research goal and significance, this paper puts forward related concepts and theories of project risk management, briefly introduces study object, and then presents basic idea of risk management of this project by applying project management and risk management theory and considering IPCI project conditions, namely, conduct planning and research on the project risk identification, risk assessment, risk response and risk communication platform and other aspects, propose risk management ideology and framework in implementing the project in Kazakhstan, so as to achieve project objectives the maximum extent possible with the minimum price and ensure profit maximization of project stakeholders.