Research On Risk Evaluation And Allocation Of PPP Model In Highway Project

Nowadays,the highway is playing an increasingly important role in the national comprehensive transportation network.However,the traditional investment model already can't meet the demand of the highway construction.At this time,the advantages of the PPP mode are increasingly prominent and recognized by the relevant government departments.Although the PPP model has the advantages which traditional investment does not have,the highway project in PPP model is a large investment with a long construction period and many participants are involved.Accurate assessment of project risk and reasonable distribution of risk factors have become the central task of risk management.This article introduced the construction and the investment in the highway construction,and elaborated the present existing highway construction and investment deficiency from the view of the public sector.In addition,it fully elaborated the necessity of PPP mode and its advantages.Secondly,in combination with related literature and engineering example,it identified and analyzed 4 first-level indicators,12 secondary indicators and 33 tertiary risk indicators of the highway project in PPP model.The weight of each risk index is calculated by the analytic hierarchy process,and the risk grade of the whole project is determined with the risk membership.In order to improve the related theory of highway PPP project risks,this paper used the shapley value model to calculate the risk sharing proportion of the public sector and private sector under the guidance of risk allocation principle.In order to match the actual situation of risk sharing,this article further optimized the risk sharing model and made the proportion of risk bearing more in line with the actual capacity of the parties involved in the project.This risk allocation guarantee the project risk in all participants controllable scope,reduce the risk of cooperation,and ensure the smooth implementation of the project.Finally this article used a highway in Chongqing as an example to simulate the highway PPP project risk evaluation and risk sharing and verify the validity of the model.