Risk Identification And Sharing Of Highway PPP Projects

In the context of rapid urbanization in my country,infrastructure construction has become a topic of concern to the government and the public.As an important part of urban infrastructure construction,highway infrastructure construction requires a large amount of capital,advanced technology and management models.At the same time,the traditional investment model in the past has been unable to meet the needs of highway infrastructure projects.Therefore,adopting the PPP model can not only ease the financial pressure of government departments,but also improve the overall level of highway infrastructure.In the highway PPP project,not only the overall investment is large and the construction period is long,but also many participants are involved,which will increase the risk level of the entire project Therefore,how to accurately quantify risks and allocate risk factors reasonably becomes the key to the success of PPP projects.This paper studies the problem of risk sharing between government departments and social capital around highway PPP projects.First,the concept,characteristics,and relatd theoretical foundations of the PPP model are described to lay the theoretical foundation for the subsequent research.Secondly,by studying a large amount of literature and analyzing typical cases of highway PPP projects,the risk summary is summarized into three types of macro risk,meso risk and micro risk,a total of 40 risk factors.The questionnaire survey method was used to obtain the occurrence probability,hazards and sharing subjects of various risk factors,calculate the risk impact degree and rank them,and screen out the 31 key risk factors affecting highway PPP projects based on the ABC classification method,of which 8 This risk needs to be shared by government departments and social capital.On this basis,this paper conducts a research on the sharing of risks between government departments and social capital,taking the risk allocation principle as a guide,and fully considering the four aspects of risk perception,control,tolerance and risk appetite of the public sector and social capital For the difference in capabilities,the original shapley value model is revised to calculate the share of the risk shared by both parties.Finally,the risk sharing model constructed above is specifically applied to a highway PPP project in City A.Taking force majeure risk as an example,the specific proportion of risks that both parties should bear in the project is obtained,and provide valuable reference for the introduction of PPP mode in my country's highway projects.