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While the Chinese project contracting market is in oversupply condition, the contractors are facing with increasingly fierce competition, for the maintenance of their own survival and further development needs, they need to properly carry out project risk management activities so that the overall goal of the project can be realized at the least cost. This paper investigates simple and effective risk analysis method on the basis of definiting that early project decision has a significant impact on the realization of follow-up phase of the project and project objectives. It puts forward using Analytical Hierarchy Process, the method combining qualitative analysis with quantitative analysis, to rank the weights of kinds of risk factors, which can help contractors take appropriate measures to control risks, with the features of high reliability, small error, easy to implement and so on. Finally, the paper discusses the specific application of AHP with a specific example.
Date of Conference: 2-4 Nov. 2010