Research On The Differences Between Risk Factors Attention And Risk Losses In PPP Projects

In recent years,Public-Private Partnerships(PPP)have developed rapidly,for example,the UK,the US,Australia,South Africa,China,and others have adopted PPP projects to build many public projects.PPP projects are conducive to using private capital to promote the construction of national public projects and reduce the financial pressure on the government.The continuity and partnership of the PPP projects are conducive to the construction of public projects.Still,its complexity,long-term nature,and diversity of stakeholders may lead to many risks.The numerous risk factors and uncertainty of PPP projects bring challenges to project income.To maximize the benefits of projects,existing studies have extensively studied the attention to risk factors that affect the risk management of PPP projects.However,it is unclear whether the attention to risk factors corresponds to the losses caused by risk factors.Therefore,this paper explores the relationship between them.First,the initial list of PPP project risk factors is constructed by the text reading method and text mining method,and the different stages of the project are divided to form a risk index system.Secondly,the word frequency statistics function in text mining is used to make statistics on the occurrence frequency of risk factors and determine the attention of each risk factor.Thirdly,a questionnaire survey and a fuzzy comprehensive evaluation method were used to evaluate the loss value of risk factors.Finally,the IPA method was used to analyze the difference between risk factor attention and its corresponding loss value.The findings show that there is over-attention or under-attention to risk factors.Specifically,some risk factors have higher losses but less attention,and some risk factors have lower losses but more attention.Therefore,this paper analyzes the difference between risk factor attention and loss value,finds the contradictions and management errors caused by this,and puts forward adjustment countermeasures and suggestions.This study provides a helpful reference for PPP project managers and expands the risk management theory of PPP project management.