Risk Assessment Of Expressway Projects In PPP Mode

Expressway projects involve a wide range of factors,many influencing factors,high project cost,and complex relationships.The construction of the expressway is related to the comprehensive development of the cities along the route and future planning.As the key content of today’s traffic construction and development,the expressway is characterized by large capital investment and slower cost recovery after the completion of the project.Therefore,in order to solve the problem of large investment and slow recovery,the government has proposed a PPP model.That is to say,the joint venture between the government and the society,combined with the highway project,is conducive to the construction of the project.Since the social capital party not only has to invest,but also needs to consider the expected benefits within the specified time,it also needs to coordinate with other parties and have a wide range of risks.Therefore,it is necessary to study the risk of highway projects under the PPP model from the perspective of social capital parties and evaluate and respond to them.In this paper,the research on the risk assessment of expressway projects under the PPP mode in China is still not perfect,and the practical application is still in the initial stage.Based on the regional characteristics of the project and the development of the expressway,it is based on the perspective of social capital.The risk evaluation of highway project under PPP mode is studied,and the PPP project of Xingyan Expressway is taken as an example for application.The article first analyzes the development of domestic highways,the promotion of PPP mode,the comparison between regular mode and PPP mode,and then analyzes the definition of PPP,the advantages of PPP and the main types of PPP mode,etc.Specific methods and steps such as risk identification,risk estimation and analysis,risk assessment,risk decision-making,and risk response are described in detail,and the feasibility of applying PPP mode to expressway projects is analyzed in detail.In order to identify the risk factors,the WBS method was used for work decomposition,the process analysis method was used to initially identify the risk factors,and the environmental analysis method was used to study the internal and external environment of the project.On this basis,the highway project was found.Risk factors,including construction,economic,political,environmental,operational,and other aspects of risk factors,thus building an indicator system for risk assessment,and establishing a framework for risk assessment indicators.Taking the PPP project of Xingyan Expressway as an example,based on the risk indicators obtained above,the risk evaluative analysis model of the PPP project of Xingyan Expressway was constructed by optimizing the risk indicators by means of questionnaires.The analytic hierarchy process is used to determine the single factor weight and comprehensive weight of each index factor,and the fuzzy comprehensive evaluation method is used to evaluate and analyze the PPP project of Xingyan Expressway,and the results of fuzzy analytic hierarchy analysis are obtained.Finally,the main risk response suggestions are given.This paper mainly studies the risk assessment of highway project under the PPP mode from the perspective of social capital,and its research content is for the participants of the highway project(government,social,other)and other relevant researchers.It is a new combination of theory and practice,evaluation models and case applications can provide some reference for similar engineering and related researchers.