Study On The Risk-sharing And Control Of The EPC+BOT Project

The EPC+BOT model is a new model emerging in the domestic construction,advocated and supported strongly by the government and other organizations.Not as other construction models,the projects under the EPC+BOT model have many own characteristics such as more investment,larger scale,longer duration and more risks than the normal projects,perhaps leading to more problems to the participants of the project in the risk issues.The EPC + BOT model doesn't develop for a long time in China,therefore the risk issues should been given more attention.In this paper,the EPC + BOT model is researched deeply in the risk factors including identification,assess,sharing and controlling in order to provide a useful reference for the risk EPC + BOT model.The theories and concepts of the EPC + BOT model and the risk-sharing is described in the first through the concepts and features of the EPC model and the BOT model.By collecting and reading the literature about the risk sharing,the general principles and methods are summed up.However,in the practice operations the projects under the EPC+BOT model are met with a series of problems.Then in this paper the author try to identify the risk factors about the EPC + BOT model,establish a list of risk factors,use the survey questionnaires to collect the views of the different types of experts to the importance of risk factors and risk-sharing,sequence the risk factors due to their importance from the questionnaires by the Analytic Hierarchy Process(AHP),filter out the risk factors on the importance rank,calculate the percentage of the choices of the different types of experts to the risk-sharing by statistical methods,and then use the Chi-Square test to test if different types of experts have significant differences.For the analysis in the preference of the main risk-sharing factors,the author studies on the preference by the method with double standards combining the subjective criteria and objective criteria in order to find out the risks,which could be classified by independent recipient,co-recipient and unclear recipient.Finally,through the views of the different types of experts on the risk-sharing,and the general principles including the effective control principle,the duty-own principle and the direct lose principle,the suggestions about the risk-sharing and controlling of the EPC+BOT model are made.After summing up the idea and analysis of the risk-sharing and controlling of the model,the more effective and flexible processes of the risk-sharing are summarized in order to provide useful help for the management of the project under the EPC + BOT model.