Risk Management Of Chemical Consumable Specialties EPCM Project Of X Company

The level of construction project risk management is a symbolling and very important measure index to judge the project management grade of maturity among companies.Project risk management is the active measure that ensures the project quality,cost and duration,which decides whether the engineering project is successful or not.Currently,EPCM model is a popular one for each chemical industry company when investing a new construction project.In order to meeting the requirements of local market on chemical consumable specialties,reducing logistic cost and tax,one of the business segments of X company invested this project.The company has an independent project department in the Great China Region and the chemical industry technical skills are very professional and strong,however,the lack of experience on investing similar project and special requirements in this products area these years,caused a lot of difficulties and problems during the whole project phase.The project handover was delayed by 3 months.Especially in the trial production stage and normal production stage,a lot of project quality issues were found by operation team of the project owner,most of whose root cause located at engineering and construction management phase.All of the factors had bad effect on capital pay-off of the project.According to these above problems occurred during project phase,based on engineering practice,firstly,combining the characteristics of EPCM project construction model and by means of risk check list,the paper identifies project risk factors of Business Flexibility Survey stage,Engineering stage,Purchasing stage,Construction Management stage,Loop Check and Acceptance stage,Trial Production stage,Final Acceptance and Normal Production stage,and allocates the ownership of each risk factor;Secondly,the paper makes use of the PFMEA Method to valuate the risks,and works out feasible specific countermeasures and monitor or control methods;Lastly,the paper summarizes the details that need to be emphasized during Chemical Consumable Specialties Project risk management based on some strategies and measures taken by the company,tries to establish the project risk management system to apply to other coming projects of the company,to reduce the risks of investing projects.Currently this has been used in project being constructed and good result is achieved.