Research On Risk Management Of Public Private Partnership In Public Rental Project

Public rental house project is kind of housing security system carried out by the Chinese government at the aim of promoting urbanization and guaranteeing the "sandwich layer" groups who are in low and medium income. Public rental house has the characteristics of welfare and commonweal and it also has the characteristics of the commercial rental houses. But now most of the money which is used in the construction of public rental project are from the central departments financial funds and local government land revenue policy funds. The amount of fund is limited and source is single and the supply is not stable because of the policy changes. All of those cause the problem of the shortage of funds which is faced by all around the country and hinder the construction of public rental house. In this way, Our government are paying more and more attention to the research on the construction of public rental house. In recent years, the PPP pattern has showed clear advantages in the construction of infrastructure, the urban traffic and public utilities projects in many western countries. It combines the advantages of government, private investor and finical organizations and makes the best use of them. In this way, it not only reduces the government financial pressure but also improves the operation efficiency and service quality and also brings stable income to private investors at the same time.With the implement of the twelfth five-year plan, more and more enterprises has imported the PPP pattern in the construction of infrastructure of our country and achieved good results. So it is useful to import PPP pattern in the risk management of public rental house project especially for solutions of all the problems during the construction of public rental house.Based on the analysis and arrangement of relevant literatures and documents in domestic, carry out the research on the public rental housing PPP project risk management. firstly summary the researches on the foreign public rental house and the PPP pattern and determine the path of this article. Secondly, explain relatedtheories and methods, then emphatically introduce the theories of risk management used in the PPP pattern in public rental house project and provide theoretical support for below. At last,we focus on the risk identification, risk evaluation and risk sharing and give the countermeasures and Suggestions. On the basis of summary of the domestic related PPP project failure factors, combined with the WBS and RBS method, compare and analyze the risk of PPP public rental house project form the aspects of transverse and longitudinal. Decompose the project structure and project risk and summary all the risk of the project. With the method of group decision characteristic root method we choose the key risk factors and build the risk evaluation index system of PPP in public rental house project. Use the entropy weight fuzzy evaluation model to evaluate the risk factors and calculate each share of the key risk factors in the overall project risk. On the basis of risk identification and risk assessment, through reading literatures and references, develop a risk-sharing scheme of PPP in public rental house project. Based on the present situation where the government and the private sector are in the asymmetric status, build the public and private risk allocation between the two sides under the incomplete information game model and determine the risk of both sides should take on. Analyze the case of through specific PPP in public rental house project and verify the effectiveness of risk evaluation model and game theory model under the incomplete information. All of these provide reference and certain theoretical basis for risk assessment and risk sharing in the PPP in public rental house project.