On December 8th, the “International Project Risk Assessment Summit Forum” co-hosted by SEG, Palisade and AACEi was held successfully in Beijing and was attended by risk experts and professors from Sinopec, CNPC, CNNP, CTGC, Palisade, AACEi, First Huida Risk Management, Tsinghua University, Beijing University of Aeronautics and Astronautics, Tianjin University, Southeast University and other large central enterprises, consulting companies, software companies, associations and famous universities in China. Xiang Wenwu, SEG Deputy General Manager, and experts from SEG International Business Department and Legal Department were attended.

The forum included 11 keynote speeches and 6 rounds of expert review and discussion, making in-depth exploration on main risks involved in overseas business with quantitative risk assessment based on computer simulation technology as the main line and big data, data mining, artificial intelligence and other emerging technologies as auxiliary tools. The speeches covered quantitative risk assessment of EPC projects, risk assessment of investment projects, risk assessment of political projects, exchange rate risk assessment, risk assessment of nuclear power projects, technical risk assessment of weapon equipment projects and other best practices, as well as in-depth exploration in risk data collection and processing, chaos risk assessment models, recommended AACEi risk assessment procedures and other new theories and new methods. On the forum, SEI and SEG International Business Department gave their respective keynote speech on “risk assessment practices of large EPC projects” and “A new perspective on risk assessment of complex projects: chaos model” and were well received. The discussion achieved the purpose to share experience and make exchange and improvement.

Palisade, founded in 1984 in New York of the U.S.A, is a world renowned risk software developer and consultant with 32 years of history till now. The risk and decision-making software series developed by Palisade, @Risk Decision Tools Suite, have been widely applied in various industries and played a very important role in risk quantification and decision making study and practices in recent decades. Palisade invited SEG for many times to give a keynote speech on their annual global academic meeting.

AACE International was founded in 1956 and has a history of 60 years till now. It is a non-profit organization specialized in engineering project estimation, project management and risk management study and practices in the United States and consisting of interest enthusiasts, experts and scholars from famous engineering companies and universities in the United States. The Recommended Procedures developed by AACE International has been widely applied to feasibility study, FEED, etc. in petroleum, petrochemical, mining, chemical and other projects. SEG has established long-term cooperation relationship with AACE International and once invited its famous estimation expert and risk expert, John Hollmann and David Hulett, to give AACEi knowledge system training and also was invited by AACE International to attend its academic annual meeting for many times.