Research On Risk Evaluation Of PPP Environmental Project Based On Gray Evaluation Method

With the development of China’s economy,environmental damage is becoming increasingly serious.Under the new economic normality,the government pays more attention to the sustainable development of environmental protection projects.The introduction of PPP(Public-Private Partnership)can successfully solve the financial problem of the environmental projects,and also can help reduce the financial pressure of the government,so in recent years,PPP(Public-Private Partnership)is becoming increasingly widespread in the field of environmental protection.In the implementation of PPP environmental projects,because of the special nature of environmental projects,and the characteristics of PPP,the risk of the projects is more serious than the general project.How to scientifically quantify the risk of the PPP environmental protection projects during the construction process and do precautions in advance,are the necessary prerequisite for the successful implementation of the environmental protection projects.This paper first systematically expounded the seriousness of environmental problems in China and the current situation of investment in environmental protection projects:the total investment in environmental protection in China is insufficient and the investment efficiency is low.In this background,we analyze the necessity and feasibility of introducing PPP financing model for environmental protection projects,and qualitatively analyzes the development of PPP environmental protection projects in China.Secondly,combined with the characteristics of PPP environmental protection project,the index set of project risk factors was identified by literature review and hierarchical decomposition.Thinking about the duplication and cumbersome phenomena between indicators in the index set,we select the risk index of PPP environmental protection project by using the rough set attribute reduction theory,which includes nine categories of political and legal risks,social risk and so on.And 21 secondary risk indicators of policies and regulations and so on.In the risk evaluation of PPP environmental protection project,according to the characteristics of environmental protection project,this paper establishes a combination of weighted gray risk assessment model.On the Weight problem,the combination of triangular fuzzy number theory and entropy theory,the formation of subjective and objective combination of risk assessment weight;evaluation methods,the use of multi-level gray evaluation method of PPP environmental protection project risk quantitative analysis,according to the model results in the risk Grayscale determines the project risk level.Finally,the feasibility of the model is verified by the case of Wuhan Xinzhou Project,and the risk control suggestions of the project are given according to the quantitative results of the project risk.