Method of Risk Identification and Analysis Based on Risk Chain and Maps: A Case Study of an Overseas EPC Electric Power Project
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Abstract
This paper defines and clarifies the concepts of risk source, risk factor, risk event, risk consequence and risk loss involved in the risk related research. From the perspective of the contractor, it gives the corresponding risk list of overseas EPC construction projects. It proposes the method of risk identification and analysis based on risk chain and maps. The project risk map is built with taking a specific overseas EPC general contracting project of electric power as an example. With this method, the process of risk identification and analysis is programmed, and all the risks are unified as cost for analysis. The process of building risk chain and maps is the process of analyzing the effects of risks on the cost. It greatly facilitates the subsequent work in the risk assessment phase.
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