Research On Procurement Risk Management Of CIMC Raffles Drilling Rig Construction Project

With the development of offshore market, Singapore and South Korea shipyard do not have enough production capacities to undertake other orders, so CIMC Raffles which has abundant experiences in offshore construction expected to gain more market orders, but the weak design capabilities and basic management restrict the expansion of the offshore industry. Accordingly, in order to achieve the goal of becoming a world-class offshore enterprise, CIMC Raffles must strengthen basic management, especially risk management. The construction of a drilling rig takes a long construction cycle, complex processes, high technical requirements and great investment, which are bound to contain various risks. As an important part of the whole project, the risk of procurement will impact the success of the project.The paper, based on studying many theory on risk management and procurement risk management, adopting the method of theoretical studies, combining with field research and going to the workshop of COSL PROSPECTOR drilling rig construction project, puts forwards many problems of project procurement risk management; and then using Analytic Hierarchy Process to evaluate the procurement risk of COSL PROSPECTOR drilling rig project.This full text is divided into six chapters. The first chapter is the introduction, which mainly explains the research background, significance and condition of risk management and procurement risk of domestic and international. The second chapter describes the theory of the construction project procurement risk management:the identification, evaluation and response of procurement risks. The third chapter introduces the procurement requirements, processes and status of the COSL PROSPECTOR project.The fourth chapter is the main body of the paper which expatiates the identification and evaluation of the COSL PROSPECTOR project procurement risk. According to the theory of procurement risk management and the condition of COSL PROSPECTOR, the paper outlines the key risk control point of project procurement, constructs the procurement risk evaluation index system, evaluates the procurement risk which applies the analytic hierarchy process and obtains the weights and order of procurement risk factors subsequently.The fifth chapter brings forward the risk response measures under the identified key risk control points of COSL PROSPECTOR, and then provides references for minimizing to reduce procurement risks losses and ensuring project delivery on time and on budget.The sixth chapter summarizes the paper:it applies the theory of procurement risk management in the production of the COSL PROSPECTOR project to avoid the procurement risk; identifies potential risk control point of the procurement process, builds a procurement risk evaluation index system of the project, uses analytic hierarchy process to evaluate eleven procurement risk factors, and obtains the weights and order of procurement risk factors to support project manager to engage in better procurement risk management; based on the identification and evaluation of the project procurement risk, the paper puts forward response measures according to the risk of the procurement process six stages, so that the project procurement risk is manageable and controllable, and the damages could be prevented.