Research On Risk Management Of Sanitation PPP Project Of Y Company

With the rapid development of China's economy,urban household garbage is increasing,thus exerting more pressure on sanitation management.In the past,the government is both an "athlete" and a "referee".Because of inefficiency and local financial pressure,the traditional sanitation management model no longer meets the needs of current development.In 2017,China's government began the implementation of PPP model in sanitation management field with the support of national policies.Therefore,the number of sanitation PPP projects rose rapidly.Compared with traditional one,the PPP model is more risky and complicated for its features including large investment scale,long operating cycle,and large number of participants.However,due to the relatively short observation period,there are few domestic studies on the risk management in this field.Therefore,this paper selects the Y company's sanitation PPP project as the case analysis object and systematically investigates its risk identification,evaluation and response,in order to further enrich the risk management study in the sanitation field.Specifically,this paper sorts out the common risk list of PPP projects by literature review,and then modify them according to the specific circumstance of Y company sanitation projects and expert opinions,through which 26 risk factors in sanitation PPP project risk list are summarized.Based on the risk list,this paper constructs a hierarchical risk assessment index system and determines the relative importance ranking of each risk via analytic hierarchy process.It is found that employees' operational safety problem is most concerned by the company.This can be attributed to labor-intensive nature of the sanitation industry,large number of elderly employees and poor safety awareness.Further,this paper uses the fuzzy comprehensive evaluation method to comprehensively evaluate the risk situation of the Y company sanitation PPP project.The evaluation results show that the overall risk level of the sanitation PPP project is high,but it can be reduced by appropriate risk management methods.Finally,based on the risk sharing principle of PPP projects,this paper provides reasonable risk response measures for project participants.This study enriches the risk management content of PPP project in the field of sanitation and provides a reference for future development of sanitation PPP project in China.