Research On Risk Management Of BT Model For The 5th Bridge Of Xiangjiang, Zhuzhou, Hunan

Since China's 12 th Five-Year Plan advocated development of infrastructure construction, whenever civil construction are in the progress, construction industry will also be thriving. The BT model was introduced to China from the 90's of last century, and has been widely used in infrastructure industry. Meanwhile, the economic development is so rapid that the related theoretical research is still not perfect.Various kinds of risk in BT model exists from the beginning to the end of project. If related compliance file is not compete, the involved entities would be punished by relevant authorities; if construction time is too long, the market demand may change; during construction period, weather change might also cause delay to construction schedule. There is complicated relation between all kinds of risk, if not controlled, insignificant risk may diminish project proceeds. Therefore, study on the risk of BT mode is a necessary. Furthermore, under the current BT mode conditions, only large-scale construction enterprises can bear the risk. Since large enterprises is not very flexible in economic transform, it would an opportunity for large enterprises now that the government encourages BT mode.This paper explains why the BT mode is important for infrastructure industry at home and abroad. In section 1, the paper introduces related researches on BT mode. In section 2, the author summarizes the BT mode, estimates related risk and proposes solution. In section 3 to 5, Hunan Zhuzhou Xiangjiang Fifth Bridge project is used as an example to illustrate the precautionary measure of investor for different kinds of risk.