Contract Risk Management for Cultural and Tourism Projects in EPC+O Mode

Abstract

Driven by the policy of deepening the implementation of the rural revitalisation strategy and the deep integration of culture and tourism, the EPC+O model is becoming the preferred paradigm for large-scale culture and tourism projects due to its full-cycle integration capability. However, its contract risk management still faces the multi-dimensional challenges of cultural adaptation, operational benefits, and policy compliance. In this paper, 35 risk factors are identified through an empirical study of relevant literature, and the indicators are optimised using the questionnaire survey method to form a contract risk evaluation index system that includes 4 guideline levels, 10 level 1 indicators, and 32 level 2 indicators. The weights of the evaluation indexes are calculated by the comprehensive assignment method, combining the entropy weighting method and hierarchical analysis method. The contract risk evaluation model of the general contractor for the EPC+O mode cultural tourism project is constructed by the grey fuzzy comprehensive evaluation method. Taking the Hunan Shaoyang Wujiang Night Tour cultural tourism project as an example, the established contract risk evaluation index system and evaluation model are used to evaluate the contract risk of the project, and the risk control measures are proposed for the risk indicators with the most significant risk value of the project. The scientificity and applicability of the evaluation model are verified, providing tools for contract risk management of the EPC+O cultural tourism project, which has specific positive significance for the development of contract risk management.