Research On Risk Management Of PPP Project Financing

The PPP model promotes the partnership between government and social capital based on the direction of output benefit and sustainability.However,risk is a critical question to the realization of project goals and performance in the PPP project.Both the government and the social capital need to assess the risk of the whole project life cycle objectively and take the corresponding risk control means to control the risk within the bearable range.And that,how to share the risk in a reasonable and fair way between the parties is the key content of the successful construction and effective operation of the PPP project.Starting with the basic theory of financing risk management in PPP project and summarizing the current situation of financing and risk management,this paper reviews the major problem of PPP project financing and risk management,and it researches risk identification,risk assessment and risk sharing.The main research contents and conclusions are as follows:1.The exposition of development status and main problems of the PPP model in China.The three problems in the risk management of PPP project in China are summarized,such as the lack of risk management awareness,the lack of risk management means and the lack of a reasonable risk sharing framework.2.Based on the sources of PPP risk factors,the three level and six aspects of the twenty-eight index system are established.3.It establishes the relevant model of risk assessment by using the analytic hierarchy process and the grey comprehensive evaluation method both in qualitative way and the quantitative one.The principles and conditions of the selection of experts in the application of the model and the design principles of the questionnaire are put forward.4.It provides scientific basis for risk identification,risk assessment and risk sharing in the process of advancing PPP project in the future,and it focuses on provide basic thought of PPP project financing risk sharing in three way of sharing principle,sharing process and sharing frame.