Abstract: PPP Model can play a better role in promoting China’s economic development and improving people’s livelihood. However, during the development process, PPP projects are faced with greater risks. Especially each province has its own concerns during the process of promoting PPP projects, and each has different risks. By constructing a PPP project risk index system, this paper studies the risk factors influencing provincial PPP projects with the method of analytic hierarchy process. The results show that the economic operating environment is an important cause of the risks for PPP projects; its weight is up to 52.78%. On the basis of determining the weight of the index, the efficiency coefficient method is used to grade the index, and the linear comprehensive evaluation model is used to calculate the risk assessment comprehensive value of all the provinces in China. The empirical results show that the risk level of PPP projects in Beijing, Shanghai and Guangdong is relatively lower, but it is relatively higher in other 6 provinces such as Guizhou and Yunnan. Therefore, in order to guard against the PPP project risks, some improvements should be made in the future, such as preventing technical risks, preventing and punishing corruption, improving the laws and regulations on PPP projects, rationalizing market profits, etc..

Key words: PPP projects; analytic hierarchy process; project risk measurement; efficiency coefficient method