EPC Project Risk Management Study On Olefin Converting Plant Of S Engineering Company

High project management level is required to meet the demands of large and complex chemical plant construction.EPC mode is favored in large-scale and complex chemical plant construction to reduce owners' risk and enhance general contactors' returns.Due to various interface and long construction period,risk management is important during EPC project execution.This paper investigates the risks of Olefin Converting Plant project from S engineering company.Using check list method and brainstorming method,project risks are identified and classified into 7 groups and 27 sources,involving legal risk,management risk,cost risk and etc.,A main risk source list was developed.AHP(Analytical Hierarchy Process)analysis is introduced for risk evaluation and shows that the key risks of the project are inexperienced designers,immature construction method and process complexity.Countermeasures are proposed,detected timely during whole project cycle,eliminated and reduced.Project risk can be controlled at acceptable level and risk management level of the engineering companies will be improved.The study of this paper can be used for reference for risk management of similar chemical projects.