Research On Risk Allocation Mechanism Of The PPP Model In Urban Rail Transit Project

At present, the construction of urban rail transit project is rapidly developing in our country, the construction model and financial model is varied, and PPP(Public Private Partnerships), as a kind of new construction model and financial model is widely used in practice. The introduction of the model not only can alleviate the financial pressure of the government, but also can effectively promote the progress of the urban rail transit construction in China.Due to the characteristics of PPP model itself, there are many causes in the whole life of urban rail transit construction process, they are more complex and more risk. How to share the risk became the key point under the public-private partnership model and effective operation of urban rail transit project. How to reasonably share these risks in numerous cooperated-building parties of the project has become the focus of them.This paper integrated use of research method combined of literature research and quantitative analysis, with the comprehensive method deeply analyze under the PPP model how to share risk of urban rail transit construction. Firstly, through the WBS decomposition, decomposition of RBS and the two-dimensional risk matrix preliminary identify the risk factors, through expert interviews and literature summary to summarize main 27 kinds of risk based on the PPP model of urban rail transit project; secondly, determine the stakeholders(risk sharing body) under the urban rail transit project, by the way of questionnaires to find the most critical factors affecting risk sharing results under the PPP in urban rail transit project, then from the angle of the factors influencing the risk sharing to build index system of risk sharing, the index system consists of five primary index and 12 secondary indicators, and on this basis, the grey correlation theory is adopted to establish the PPP risk sharing model of urban rail transit project, finally identify stakeholders; thirdly, design the PPP risk sharing system of urban rail transit project, the key is combining the PPP model of urban rail transit project risk sharing process with effective use of risk sharing model, work out the risk sharing scheme based on the identified risks, in addition, from the perspective of system, incentive and constraint the behavior of stakeholders to a certain extent, designing the risk sharing system mainly from two aspects: behavior guidance and action plan, to ensure that the effective implementation of the project risk sharing results in practice. Finally, take Beijing subway line 14 as an example to verify the validity of this model.