Research On Risk Identification And Countermeasures Of Expressway Projects Under PPP Mode

China's economic development has contributed to the continuous development of the transportation industry,in which expressways are regarded as the key infrastructure of construction.Meanwhile,a series of contradictions such as fund shortage and large demand has gradually deepened.In that case,the combination of PPP(Public-Private-Partnership)mode and expressway construction not only deals with the problem of fund shortage,but also meets the public demand.Because the expressway PPP project itself has the characteristics of complicated process,strong specialty,numerous stakeholders,abundant uncertain factors,long payback period,etc.;hence,there are huge risks.Therefore,it is very necessary to comprehensively identify risks existed in the expressway PPP project and take reasonable measure to address every single risk.Firstly,case comparative analysis method is employed,the author analyses the project feasibility reports,financial affordability demonstration reports,and value evaluation reports of 175 public expressway PPP projects from the PPP project management database.Thus,primarily,it comes out 49 major risk factors.Furthermore,the author consults experts;on this basis,a list of risks for China's PPP project is ultimately obtained.Secondly,based on the risk factors,the unique risk factor of expressway PPP project,namely traffic volume risk is studied in the thesis.The four-stage method is used to forecast traffic volume,the general development law of traffic volume risk is illustrated,various causes of traffic volume risk are summarised,and a revised method is proposed.Thirdly,force majeure risk is selected for analysis according to the risk identification results in Chapter 3 and the analysis to the traffic volume risk factors in Chapter 4.This paper takes a different approach and proposes a text classification method to predict the risk level of natural force majeure risk that may occur along the expressway.This method has certain reference value for reducing the natural force majeure risk of expressway PPP projects.Finally,according to the previous research,the paper puts forward the corresponding countermeasures to the common risk factors of PPP project on expressway,and provides a scientific theoretical basis for risk management.