Risk element transfer: A new method to measure the risk of energy-saving type construction company

Cunbin Li, Hongyi Chen, Ligang Shi, Zhiwei Li, Zhe Du

Research output: Contribution to journalArticle

1 Scopus citations

Abstract

Energy-saving type construction company faces increasingly arising serious risks because of the construction system reforms, the diversification of contract format and the complications of large modern project items. How to deal with these risks becomes an important problem which needs to be considered seriously by a energy-saving type construction company. However, risk management in energy-saving type construction project in China is just on the horizon. The weakness of consciousness and the lack of ability in risk management exits in most of the construction companies, so it is imperative to carry out research on risk management in energy-saving type construction companies. Based on the rigorous reality, the paper puts forward a new theory to measure the risk of energy-saving type construction company: the theory of risk element transfer. In detail, the process of risk transfer is decomposed into two sub procedures: risk element reduction recursive procedure and risk element elastic process. The two processes are related to how the risk will be changed under enterprise external condition and internal condition respectively. To measure risk properly, four new variables are presented. Focus on them, we are able to measure risk on single project and multiple project in order to minimum the risk and maximize the profit of construction company.

Original languageEnglish (US)
Pages (from-to)367-372
Number of pages6
JournalEnergy Education Science and Technology Part A: Energy Science and Research
Volume31
Issue number1
StatePublished - 2013

Keywords

  • Elastic process
  • Energy-saving type construction company
  • Recursive procedure
  • Risk reduction

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