Research On Risk Management Of PPP Project In Urban Rail Transit

PPP, the abbreviation of Public-Private-Partnership, it is a new project financing model means government department and private enterprise cooperation which developed from late1990s. Now it becomes a more and more popular financing mode in infrastructure, public utilities construction and natural resources development projects.Since the reform and opening-up, the urbanization in China has continued fast developed. Accompanied by the accelerated process of urbanization, urban rail transit has also entered a rapid development period. Especially into the21st century, the urban rail traffic has shown a positive role in the optimization of the structure of urban space, urban traffic congestion, protect the environment and so on. But the high cost of urban rail construction and complicated operation/maintenance management work after revenue will bring an enormous financial and management pressure to local governments, at the same time, the government’s backward management level will hinder the development of urban rail transit industry, so introduce the PPP mode to the field of urban rail transit construction is very important, and will be the trend in future.In this thesis, it first analyzes the various financing methods and theirs characteristics in urban rail transit construction, researches the financial situation of urban rail transit projects in some cities around the world. Then, it introduces the risk management theory, include the risk identify, risk asses, and risk management. And use these theories and methods to analyze and assess various risks that may be encountered in the urban rail transit PPP financing projects from the different stages, types and levels. Third, it through Beijing Metro Line4PPP financial project as an example, use project management tool-Question Investigate to identify all the potential project risk factors in urban rail transit PPP mode project, then do the investigation and evaluation at the six main project risk factors including political risk, project finishing risk, operation risk, financing risk, credit risk and natural risk. Use the practical risk management experience in Beijing Line4to do the explanation of risk response. At last, the author writes down the significance and learning of Beijing Metro Line4PPP financing projects use his actually experience.This thesis focuses on the research and application and research of the risk management to the urban rail transit PPP financing mode project, proposes some practical, accurate and universal risk management and risk response methods to this new project financing mode. It is helpful to increase the project manager’s risk awareness and risk management level, has some practical value.