Research On Owner's Risk Management In Electric Power EPC Project

Electricity is an important basic industry and economic pillar industry that concerns the national economy and people's livelihood.During the 13 th Five-Year period,Chinese government has put forward higher requirements on power supply capacity and power grid development.At the same time,a new construction mode called Engineering,Procurement and Construction(EPC)is being vigorously promoted in China,which brings many advantages,such as improving project quality,improving work efficiency and optimizing resource allocation.EPC has been first applied in the power industry and can effectively help power engineering to realize maximum value and benefit.However,the owners of electric power engineering projects will face more new challenges and risks when they apply EPC.At present,relevant researches at home and abroad are mainly focused on the risk management of the general contractor side of the project,while the research on owner side is still neglected and inadequate,which is not conducive to the overall healthy and sustainable development of EPC in the field of electric power engineering.This paper will mainly focus the risk management of owner side in electric power EPC projects.In details,the main research works are as follows.Firstly,on the basis of in-depth interpretation of domestic and foreign researches and policies,this paper analyzes the characteristics of EPC and electric power engineering projects based on the perspective of owners,which lays a foundation for subsequent research and analysis.Next,according to the theoretical framework and method of risk management as risk identification,risk analysis,risk response and risk monitoring,this paper establishes the risk list and build the risk assessment model and risk control system framework of owner in electric power EPC projects.Finally,an empirical analysis has been conducted to test and improve the above research results.The research will fill the gap of current research by improving the comprehensiveness,systematicness and applicability of risk research system in electric power EPC projects.In addition,a set of feasible risk management system will be explored for the owners of electric power EPC projects,so as to strengthen their capacity of risk control,improve the assurance of the realization of project goals,and better guarantee the benefit and value of national electric power investment.