海绵城市 PPP 项目利益攸关方关键风险识别研究

风险管理是海绵城市 PPP 项目建设与运营的核心问题。以固原海绵城市 PPP 项目为例，通过座谈和问卷调查，识别并评估项目关键风险因素，从政府和社会资本双重视角探讨关键风险因素的异同。结果表明，固原海绵城市 PPP 项目中政府方注重项目层面风险，而社会资本方更注重政府或行政层面风险；同时，政府和社会资本对政府违约风险和审批延误风险的重要程度认知较一致，对运营服务费用支付风险存在认知错位。研究进一步为双方提供不同视角的见解，将有助于指导探索影响海绵城市 PPP 项目成败的关键风险因素。

Exploring Critical Risk Factors of Sponge City PPP ProjectsFrom a Cross-stakeholder Perspective

Risk management is the core issue in the construction and operation of Sponge City PPP projects. Taking Guyuansponge city PPP project as an example， informal discussions and field questionnaires were adopted to identify and evaluate criticalrisk factors of the project， and the similarities and differences of critical risk factors were explored from both public and privateperspectives. The results indicate that in the sponge city PPP project of Guyuan， the government pays more attention to project-levelrisks， while the social capital side focuses more on government or administrative-level risks. Meanwhile， the public and private sideshave similar perceptions on the importance of government default risk and project approval delay risk， but inconsistent cognition ofoperation service payment risk. Further insights from cross-stakeholder perspectives will be provided for both sides， and guide futurestudies to continuously explore the critical risk factors that influence sponge city PPP projects.