Risk Management On The 110kV Bai’ma Substation Project

With the development of China’s economy, more and more construction projects have been carried out. Therefore, more attention should be paid to project risk management. Construction projects tend to be a long difficult process and the process is very unstable, so that risk management can’t be ignored. If these risks can’t be detected and managed properly, significant losses are very likely to be caused. At present, since risk management is widely used in project management, relevant researches, especially researches associated with specific projects are quite necessary.This thesis concludes the developing process by sorting out relevant theories of risk management. Specific risk management methods such as risk identification, risk assessment, risk evaluation, risk response planning and risk monitoring are adopted. LEC method is applied to the risk management of Bai’ma substation. Probability, frequency, scope and consequence evaluation of all secondary risks have been given proper grades and a composite score is calculated. Through an analysis to this composite, proper response planning are given in this thesis. According to the results of researches on Bai’ma substation, hydro meteorology risk and getting-hurt-by-falling-objects risk are high. Risk control and risk transfer are mainly used to cope with such risks in the project.