Research On The Risk Management Of International EPC Project

With the implementation of "going out" strategy,more Chinese companies are going abroad to carry out international contracting business.Due to the lack of experience and differences in cultural concepts,many companies face different risks abroad.In particular,the international EPC project is characterized by a large scale,a long construction period,and a fixed contract amount.If these risks are not adequately controlled,the benefits of EPC projects will be reduced.At the same time,EPC contractors may cause serious economic and reputation loss,and even affect China's image in that region.Therefore,it is important to systematically study the risk management of international EPC project.This paper mainly uses the method of literature review,theoretical analysis and case analysis,and the expert judgement method.From the perspective of the project contractor,it systematically discusses the risk management of the international project EPC contracting project.First of all,it briefly introduces EPC theory,risk management theory,the risk theory of international EPC project and the risk of research status for EPC project at home and abroad.Secondly,it introduces the risk analysis of the international EPC project,including the risk identification,classification,assessment and risk response.Meanwhile,the risk management of the Zambia project is studied,which is Mainly based on the external risks of Zambia project,the risks of the bidding stage,the risks of the design stage,the risks of the procurement stage,the risks of the completion acceptance stage.The risks of M project are identified according to the experts judgement.The list of identified risks is established,and experts comprehensively scores the severity of the identified risks and the probability of risk occurrence,and then determines the risk level for risk assessment.According to the lists of the risk which need to be dealt with,the paper introduces the measures for risk response,and gives some suggestions for dealing with them.Finally,according to the risks to be dealt with in the case,16 risk prevention measures of the international EPC project are proposed,mainly from the project external risks,the risks of the bidding stage,the risks of the design stage,the risks of the procurement stage,and the risks of the construction stage and the risks of completion acceptance stage.This paper conducts a study on the risk management issues of the EPC contracting project in the international project,and conducts a comprehensive research and analysis on the risks of the T company's completed Zambia project.Meanwhile,it summarizes the risks encountered in project implementation and establishes the post-project risk prevention measures.