Risk Management Study Of Private Partner In PPP Project

In recent years,with the change of financ ing enviro nment of local governme nts and the adjustment of national economic structure,Chinese government has actively adapted to the changes based on reality and vigorously promoted the application of PPP(Public-Private Partnership)model in large-scale infrastructure construction projects and public service supply projects.The National Development and Reform Commission(NDRC)has provided operational guidelines for the promotion,whole process and all-round management of the PPP model.The Ministry of Finance has set up the China Public Private Partnerships Center(CPPPC)in time to act as the competent financial department for the promotion of PPP projects and the implementation of PPP models throughout the country.It has established a nationwide PPP project bank,launched national demonstration projects,and vigorously encouraged and guided social capital to enter the field of large-scale infrastructure construction and public service supply.Local governments have launched a large number of PPP projects,especially in the construction of public infrastructure and municipal infrastructure.The construction,expansion or relocation of municipal infrastructure projects involving people's livelihood,such as municipal solid waste treatment and sewage disposal,are required by The Central Government to give priority to PPP project.Undoubtedly,PPP model is being accepted by more and more people,whether as a tool of local government financing or as an effective means of resource allocation and efficiency improvement.PPP model was vigorously promoted in our country in 2013,for special historical background and realistic needs.Though the PPP model has been applied in China for twenty or thirty years,the academia and the industry have no enough understanding of the essence of PPP.In a short time,a large number of PPP projects are launched to promote the development of national economy.At the same time,it also contains huge risks,especially for social capital,if the risk management is careless,it may cause disastrous consequences.This paper combines the development of PPP model at home and abroad,through in-depth study of the essence of PPP model,giving its own definition of PPP model.Based on the study of a large number of peer existing research results and a lot of PPP project failure cases,taking the project promotion time as the axis,the possible risk factors were classified according to the different stages of PPP project promotion.A list of 28 risk factors was obtained,which provided a useful reference for PPP project risk management.The purpose of PPP model project risk research is to control and reduce risks.Risk managements include risk assessment and risk reduction.In the stage of risk assessment,this paper uses the Analytic Hierarchy Process(AHP)to calculate the weight of possible risk factors,and uses fuzzy comprehensive evaluation method to determine the overall risk degree of the project and the sharing of specific risk consequences.In the link o f risk management,the author taking the opportunity of participating in LC-SPV project as an example and defines the main risk factors of LC-SPV project and gives specific risk prevention and control measures by using the theory and algorithm in this paper.The risk results are shared between the government and the social capital.In this case,the project risk was assessed and managed in time to avoid loss.At the same time,the method and algorithm of the article were proved to be basically feasible through the actual case.In the process of writing papers,PPP model has experienced a short period of low ebb,but there are enough reasons to believe that with the deepening of the understanding of PPP model and the continuous improve ment of practice,PPP model will play an increasingly important role in promoting social and economic development.We also need to soberly recognize the existence of many objective obstacles such as the need to return to the origin of PPP and improve natio nal legislation.At the end of this paper,the prospect and forecast of PPP also represent our expectation of the development direction of PPP model.