Abstract:     Aerospace R&D projects are usually complex system projects, characterized by long development cycles, a diverse range of participating research units, many uncertainties, difficulty in adjusting funding budgets, and high unpredictability of development and funding control etc. The paper, based on the problems of funding management of aerospace development projects at home and abroad and the limitations of related research, takes the monitoring and disposal of funding risks in the process of aerospace project development as the object of the study and explores the establishment of a whole-process funding risk assessment model and risk assessment system, as well as effective methods for identification and assessment of funding risk factors and management and control measures. 
   Firstly, based on the analysis of the characteristics of aerospace development projects and risk management and control, five funding risk factors in the process of development of aerospace projects, i.e. technical design, development and production, management decisions, human resources and development environment, are identified and analyzed in detail, and a whole-process funding risk assessment system is established for aerospace development projects. Then, based on the funding management and control process analysis method, a funding risk management and control model consisting of five modules, including funding risk design, funding risk identification, funding risk analysis, funding risk measure, and funding risk monitoring, is proposed. The five modules are relatively independent and intrinsically related. 
    Secondly, with the goal of ensuring the lowest cost of funding risk control under the conditions of successful development of aerospace projects, the paper proposes and details the model-based funding risk avoidance, transfer, mitigation, and utilization methods and other management and control methods in the process of development of aerospace projects, and discusses in detail the specific funding risk management and control measures such as systematic management and control, standardized management and control, defense planning, human motivation and early warning system, and analyzes in detail the correlation among risk factors, risk identification and disposal methods, and management and control measures. The paper shows that these measures have the strongest correlation with the risk identification module of the risk model. 
   Finally, the project characteristics, main management and control measures and management and control results are introduced based on the case of funding management and control of Chang′e-4 Mission′s Queqiao relay satellite project, which verifies the correctness and effectiveness of the funding risk management and control measures proposed in this paper. The paper concludes that risk design is a key part of good funding risk management and control, and the basis for the correct implementation of the five types of management and control measures is accurate risk identification. 
   The research results of this paper have been applied in specific projects and have led to two important insights: first, the management and control of aerospace project funding should be placed in front and conducted earlier in the implementation process; second, in systematic management, the iterative and circular analysis of risk design should be emphasized. The research results of the paper and the verification of their use in real cases fully demonstrate that the results of the paper are of practical significance and engineering value to the effective management of future projects, especially aerospace projects.

Key words: aerospace development project, fund management and control, risk analysis, evaluation model