Research on the Early-Warning for Construction Project Cost Risk

The operation of construction project is a system engineering with dynamic characteristics, its completion usually affected by great uncertainty and risk, especially the cost risk. This paper aims to conduct theoretical and empiric analysis on the construction project cost risk issues caused by uncertainties and mismanagement, establish early-warning system of construction project cost risk, set up mathematical model to get early-warning indicators so as to estimate the risk level accurately and take measures in time to control the cost risk, and ensure the smooth implementation and completion of the construction project.