Study on Contract Risk Evaluation of Government-Invested EPC Projects

For the government, the risk assessment of Engineering Procurement Construction (EPC) project contract management is of great significance to understand the potential risks of contract management and reduce the uncertainty of the project. Based on the characteristics of EPC contracts, this study establishes a risk assessment index system from three aspects: contract planning, contract performance, and financial payment. The Covariance Analytic Hierarchy Process (Cov-AHP) is adopted to calculate the weight of each index, and a set is selected to evaluate Set Pair Analysis (SPA) comprehensively. Based on an EPC project in Wuhan as a case study. The results showed that the risk level of the EPC project contract management was low, and the corresponding risk control measures were proposed based on the overall risk level and the scores of various indicators. This study had certain references for the risk management of EPC project contract management invested by the government.