Research On Risk Management Of Relocation Project Of W Joint Venture

As there are too many other issues such as new site selection, properties physical moving, staff resettlement and management on operation transferring, etc. which relating to a relocation project, the risks in such kind of project are much more and complex when comparing to a common construction project. Therefore, in order to ensure a successful implementing of a relocation project and to avoid or mitigate the losses caused by various risks as much as possible, the most important task is to identity the risks in each stage of the project, i.e. preparation, planning, design and construction period, and then to do risk assessments, propose risk responses and take relevant actions.Compare to a common relocation project, the relocation of W company is much difficult due to high probabilities of risks and the consequences are much serious when risks happen. This is because:first, W company is a joint venture and the stakeholders involved in this project are quite complex; second, its relocation is requested and advocated by the local government; third, there are more uncertainties relating to this project. As such, to conduct a good project risk management is a key for implementing this relocation project successfully.This study is based on the basic framework of the construction project risk management, namely risk identification, risk assessment, risk response and risk monitoring, combined with the characteristics of W company’s relocation project and author’s personal practices in this project, to study and analyze the project risk management implemented in the project and to summarize what has been achieved and what are the deficiencies. Several recommendations for how to improve risk management in such kind of project are made at last. This study has some kind of help for improving author’s risk management level and will provide some theoretical and practical guidance for the subsequent implementation of W company’s relocation project. Hope it could be some help for other relocation project as well in the future.