The special topic of this paper is to build a nonlinear measuring model between PPP project risk and multiple variables and test it through case analysis. Nonlinear regression method was used in this research to study the risk mutation of public-private partnership (PPP) projects without any significant events. Risk evolution is influenced by three factors which include (1) macroscopic environment, (2) micro environment, and (3) subject's capacity and their cooperative relationship. First, it reveals three main drive variables of project risk e...