Through analyzing the lessons learnt from BALCO Captive Power Project, this paper has initiated the concept that the project management derives from the contract negotiation stage.

• 首先根据BACLCO自备电站项目实施过程的经验教训，提出了项目管理始于合同谈判的思想，合同条款的审查、修订的谈判过程其实是预测和防范自己未来风险的过程。