Research On Risk Management Of Railway PPP Project Construction

The State Council issued document No.43 to strictly control local government debts.Subsequently,Guiding Opinions on Promoting the Cooperation Pattern of Government and Social Capital in Public Services issued by the State Council(2015)No.42 was introduced.The so-called "when closing the back door,the front door opens".To effectively resolve the local debt crisis and increase the social capital's participation in the public infrastructure investment,the current government is promoting PPP projects in the field of municipal infrastructure and public service.There are fewer and fewer traditional bidding projects.Seizing the golden period of social capital,means fast expanding the market share of the construction market.However,at present,many local governments do not regulate the operation of PPP projects,and the traditional construction enterprises are too blind to participate in PPP projects.Therefore,some potential risks have not been analyzed and predicted.The important principles of PPP project are long-term partnership,benefit sharing and risk sharing.However,at present,China has not yet made any analysis and identification of PPP,such as the potential profitability of PPP projects,the risk of back-payment and the default of local governments.This thesis systematically enumerates and argues the risks involved in the whole process of the PPP project.In view of the fact that a large number of PPP projects are still in the early implementation stage or the initial operation stage,some contradictions and potential disputes have not yet been fully exposed.In the long run,throughout the life cycle perspective,the risk points of PPP projects are comprehensively reviewed.Based on the DEMATEL PPP project process risk factor calculation and analysis method,the ISM-based risk structure model of PPP project implementation is selected to scientifically screen out the main risks,put forward countermeasures and provide some practical management theory and experience reference for the development of PPP industry.