Study On Risk Sharing Of Construction Project Delay

Construction delay refers to the phenomenon that the actual completion date is later than the planned completion date during the implementation of the project.Project delay will not only cause the waste of manpower and material resources,but also affect social benefits and cause some negative externalities.Due to the large scale of construction investment,long construction period and multiple stakeholders involved,there are a lot of human and non-human risk factors of construction delay appeared during the implementation of the project.However,owners and contractors have low consciousness of project delay risk management,and there is also no reasonable loss sharing mechanism after the occurrence of construction delay,which resulted in disputes,aggravated the projcet delay and caused the phenomenon of a high rate of construction delay in China.Therefore,it is necessary to identify the risk factors of construction delay in the process of construction and develop a reasonable scheme to share the risk of construction delay,so as to reduce disputes and improve the efficiency of construction.First,case study method was used to identify the risk factors of construction delay and then the literature review method was used to supplement the risk factors.A total of 35 risk factors were identified and ABC classification method were used to select 28 critical factors for this study.Second,the paper analyzed the principle of risk sharing and designed the idea of risk sharing.According to the principle of imputation,the risk factors were divided into four categories.On this basis of this classification,the risk of construction delay was initially shared by the principle of imputation of risk and the complete information static game model,which can be divided into risks to be allocated to the owner,risks to be allocated to the contractor and risks to be shared between the owner and the contractor.Third,in order to achieve reasonable risk allocation strategies,a system of influencing factors of project delay risk allocation were developed in this paper.The analytic hierarchy process(ANP)network modeling was used to analyze the influencing factors and establish effective risk allocation ratio between the owner and the contractor.Finally,taking a teaching building project in Beijing as an example to verify the above design scheme.The result showed that the above design is feasible.In addition,in order to ensure the success the project's risk sharing,this paper also put forward corresponding contract organization recommendations and risk sharing strategies.