Study On Risk Management Of Urban Rail Transit BT Projects

With the sustained and rapid development of the economic level,China’s urbanization is accelerating.The expansion and improvement of urban quality has made vigorously building public transport infrastructure a compulsory course for modern cities.Urban rail transit which has many features such as high punctuality,strong carrying capacity,and environmental protection.is undoubtedly a leader in the construction of urban public transport infrastructure.BT model which has the advantages of flexible financing,high construction efficiency,and clear risk sharing has become a popular financing model in urban rail transit construction.It is necessary to carry out risk management on them,while urban rail transit BT projects have high construction costs,long cost recovery cycles,and numerous risk factors.In this paper,we determined the research object as the project contractor.Through literature research,the research status of urban rail projects under the BT model at home and abroad was obtained,and the similarities and differences between the BT model and several other mainstream models were compared.The SWOT analysis method was used to analyze the urban rail BT project from different angles.Then we gave some targeted development suggestions.A list of risk factors was constructed based on literature research and WBS method for risk identification.We created a questionnaire for the content of the list and issue that according to certain principles.The original data was entered into SPSS 22.0 software for factor analysis based on the principal component analysis method.Finally,4 types of key risk factors have been obtained,and the weights from high to small have been the contractor’s own factors,social and economic factors,other project participant factors,and the project’s own attribute factors,covering a total of 22 risk factors.After the reliability and validity tests,the paper gave the corresponding risk response strategies for the identified risks.Finally,we contacted the case of Shijiazhuang Urban Rail Transit Line 1 project for verification.Different risk factors are often related to each other,and it is necessary for both parties and even multiple parties to work together to achieve prevention and control.Project participants should maintain communication,improve efficiency,respond in a timely manner,and jointly prevent risks to ensure the successful construction of the project.