Research on EPCM project procurement risk based on TOPSIS and RBF method

Procurement is a core link under the EPCM model. Identifying and analyzing procurement risk is of significance to make sensible procurement decision. This paper analyzes the procurement risk under the EPCM model at first. According to the above, the writer proposed a procurement risk assessment model based on TOPSIS and RBF method, and connected with the engineering examples, made empirical analysis based on a certain amount of project procurement statistics data. The whole research shows that the new method leads to a more efficient and exact assessment for the procurement risk under the EPCM model, and meanwhile, it could provide strong support structure for the implementation of integrated procurement risk management and the establishment of financial risk early warning mechanism.