Research On Project Risk Management For Product Development Of Benzoate Ester At Eastman Chemical Company

Due to more and more plasticizer applications in various areas of national economy as well as increasingly strict regulations in or outside the country,new problems are put forward to plastic additives and its downstream industries.People are now paying more and more attention to the development and application of environmental plasticizers.Thus,Eastman Chemical Company decided to take advantage of its industrial strength to initiate benzoate ester project.This project will be faced with many uncertainties during project investments and subsequent operations because of many factors such as large amounts of investments,product safety and its wide applications.And therefore,good project risk management is very important.This paper firstly introduces specifically the background of Benzoate Ester project at Eastman Chemical Company.Based on project objective and requirements,methods of Brainstorm,Checklist and Delphi are applied comprehensively for project risk recognition in terms of safety environment,quality,progress,administration and marketing.And then,for the risks recognized,according to the actual condition of the project,AHP is used for non-safety environmental risks evaluation.As to safety environmental risk,LEC method is adopted for risk evaluation.Thus,risks of safety environment,process realization,trial run progress,equipment running,market competition and filing management is concluded to be the significant risks.At last,project coping strategy is formulated and some feasible risk control measures are put forward to decline and eliminate the adverse effects caused by the significant risks as far as possible.As a new R&D project,the scientific and effective way and idea of project risk management during implementation will provide management layer with a completely new insight and contribute to reasonable policy making,to reduce and eliminate the loss resulting from wrong policy making for project investments and implementation as well as to improve investments benefits and management level.Meanwhile,it’s also a reference for the similar projects risk management in the company.