EPC companies to continue operating overseas, it is increasingly becoming apparent that risk is no longer something to be avoided but a subject to be managed. During the bidding stage, the requirements, specifications and project line items within the bid package must be studied in details to analyze the various risk factors in order to avoid cost overruns. However, reviewing vast quantities of bidding documents is time consuming and labor intensive and is not an easy task and this is where automated information technology can help. For this study, I have constructed an ITB analysis model based on Watson AI that can analyze and apply vast amount of documents more effectively in a short time. Configuration of the Watson Explorer AI architecture for AI-based ITB risk management model research, the selection of learning procedures and analysis subjects, and the performance evaluation criteria were defined, and a test bed was constructed to conduct a pilot research. Consequently, I verified the effectiveness of the analytical time reduction and the quality of its results and VOC operations by professionals.