Latent variable	Index
Owner fiscal ability risk	Owners’ financial difficulties.
	Unreasonable use and allocation of funds.
	Slow payment settlement of completed work.
Management ability risk of project management	Failure of land expropriation.
	Poor management and control ability of project management team.
	Projects design changes.
	accidents in construction stage is not handled in time.
	The conflict between owners, contractors, supervisors, and local government organization.
	Improper bidding method and evaluation index.
	Improper management contracts, which are easy to cause the contract dispute.
Contractor fiscal capacity and fiscal management risk	Contractors’ financial difficulties.
	Unreasonable use and allocation of funds.
	Inaccurate tender offer.
Management risk of machinery and materials of contractor	The lack of manpower and poor construction ability.
	Improper work plan of preparation machinery.
	Supply work of prepare material is not up to par.
Contractor’s organization management and technical ability risk	Poor ability of construction and management of contractor.
	Technology difficulties of construction technology and application of new construction.
	Construction schedule of design project is not reasonable.
	Construction need rework when its quality does not meet requirements need.
	Work amount of construction increase.
	Unreasonable construction layout.
	Traffic system of construction site is not smooth.
	Management and subcontractor contract is not reasonable, which is easy to cause the contract dispute.
	The poor of monitoring subcontractor in construction process.
	Industrial accidents.
Selection and management of subcontractor risk	Selection of subcontractor is not reasonable.
	The subcontractor payment settlement is slow.
	Poor construction ability of sub-contractor.
Supervision unit ability risk	Monitoring work ability of supervision unit is poor.
	The ability of guide contractor to deal with sudden accidents is poor.
	The ability of guide contractor to deal with sudden accidents is poor.
	Acceptance of work completed is slow.
	Supervising personnel lack sense of responsibility.
Survey and design unit ability risk	Survey and design work ability of survey and design units is poor.
	Geological conditions of actual construction is inconsistent with geological conditions of survey and design.
	Overall plan of design construction is unreasonable which leads crashing.
	Difficulties and feasibility that design does not consider construction.
	Discrepancies between design and technical standards.
	Drawing fails to deliver on time.
Policy risk	Policy changes of infrastructure construction investment.
	Policy changes of land requisition compensation.
	Complex investment process and administrative procedures.
	Bidding management policy is not perfect.
	Tax policy is not stable.
	Wage policy changes.
Social environment change risk	Price fluctuation of construction material.
	Appreciation of exchange rate.
	Increasing of loan interest rate.
	Changes of imported special machinery, equipment and materials.
	Local social customs and habits.
	Difficult relationship with local government.
Natural environment change risk	Complex local geological conditions.
Natural environment change risk	Unfavorable climatic conditions.