Research on Risk Management of CD Company RG Bridge Construction Project
|Keywords||project risk risk management risk recognition risk analysis|
Research shows that there are1.2million people get killed;20-50million peopleget hurt on the road every year. One of the main causes for death on the road is defectof road network. This defect brings significant negative effect on economicdevelopment, people’s lives, security of properties, transportation, tourism etc. Roadconstruction projects tend to be long termed, with large sum investment, they havehigh quality requirement and involve many parties with complex organizations. Thereare many uncertainties along with construction projects, these uncertainties alsochange within themselves, risk arise from those uncertainties always interfere withthe success of project construction. Accordingly, risk management of road, bridgeconstruction project becomes the world concern.Furthermore, with the increase in market competition, the profit margin of theconstruction industry becomes low gradually and its management style turns fromrigid to refined. As profits become lower, uncertainties of construction projectsbecome more, varieties of risks facing become more and the risk damages becomehigh, project risk management becomes a fatal element to a project. That is also thereason why researches and managers put more emphasis on risk management fromboth theoretical and practical prospective. Project management is one newmanagement science, one branch of project management and also a decision makingtechnique necessary to project managers. Research on project risk management inChina is still at this beginning phase. This paper looks at the RG bridge project of CDCompany, starting from the theoretical foundation, detailed investigated the wholeprocess of risk management in practice. This paper is intended to provide useful information to project managers andproject teams in construction companies, the information includes a consistent riskmanagement methodology, technique tools and guidance on how to proactivelyrespond to risk. Understanding of project risks will better enable project teams tocontribute to the fulfillment of public service through assessing project risk anduncertainty to aide in making decisions regarding project development and delivery.RG bridge project is tightly associated with public safety where risk management isextra important. Good risk analysis and responds is the fundament responsibility ofthe constructor, CD Company in this case. This paper provides the best riskmanagement solution for the constructor to fulfill it responsibility.The key point of study is how to apply risk management theory and methods tosocial construction project; to accurately estimate, recognize, evaluate, analyze risks;to deal with risks afterwards; and to best safety with litte cost.Construction industry is a pillar instruction of national economy, safety inproduction of the construction industry is associated with sustainable development ofnational economy and the harmony of society, over-sea construction project alsorelated to international relationship, public services etc. Thus, such project shall bepaid more attention by practitioners and related people. How to conduct safeconstruction is an urgent task for the industry and the whole society. By studying theRG bridge project risk management of CD Company, this paper provides thefoundation of smooth implementation and effect risk management in the constructionproject.