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A quick breakdown of key aspects you should consider in EPC (Engineering, Procurement, and Construction) Contracts. #EPC #Construction #ProjectManagement #Engineering #EPCProject #TurnkeyContract #CapitalProjects #ConstructionLaw

Six types of contracts used in EPC industry: Lump Sum Contracts, Cost Plus Contracts, Unit Price Contracts, Guaranteed Maximum Price Contracts, Engineering Procurement and Construction Management Contracts ( EPCM) and Design-Build Contracts. Each of these contracts has its own advantages and disadvantages and is suited for different project scenarios. LUMP SUM CONTRACTS are a type of contract commonly used in the engineering procurement and construction EPC industry. They are typically used when the scope of work is well defined and there is low risk of changes or unexpected costs. One of the main advantages of a LSC is that it provides costs certainty and predictability for the client. With a LSC, the client knows exactly how much they will be paying for the project and can budget accordingly. This can be particularly important for clients with limited budgets or tight project schedules. However, there are also some potential disadvantages to LSC because the contractor assumes the risk of unexpected costs or changes to the scope of work. They may include contigencies or inflated pricing in the lump sum to account for risks and uncertainties. This can result in higher overall costs for the client. However, LSC are best suited for projects with a well defined scope of work and a low risk of changes or unexpected cost. They can provide cost certainty and predictability for the client but also may result in higher overall costs if the contractor includes contigencies or inflated pricing to account for risks and uncertainties. As with any type of contract it is important to carefully consider the specific terms and conditions of a LSC, before entering into it. #epc, #epccontracts, #lumpsumcontracts

A quick breakdown of key aspects you should consider in EPC (Engineering, Procurement, and Construction) Contracts.

🚀 Ready to boost efficiency and avoid costly mistakes? Discover how the structured phases of FEL can transform your EPC projects today! Planning is EVERYTHING when it comes to Engineering, Procurement, and Construction (EPC) projects! 🏗️ #EPC #ProjectManagement #FEL #Construction #Engineering #Success #FEED #RiskManagement #CostEfficiency #DesignPlanning #ConstructionSuccess

What is your preferred contracting methodology for a project? In older days we as a company used to do all by our own team / employees. As the size of projects grew the need of more specific expertise surfaced in each organisation and hence external help requirements came in picture. An EPC, Engineering, Procurement, and Construction contract, is a project documented execution process, in which client transfers risk to a contractor for the design, construction, and other activities of a project. The contractor is responsible for the entire project, from design to construction, while the owner is typically only responsible for turning the key at project delivery awarded to contractor based on tendering document called FEED. https://lnkd.in/dzxahNhS EPC project start with a Feasibility study. And Front End Engineering Design (FEED) by client and tendering is done. Then successful contractor does Detailed engineering, procurement and construction phases, Installation and Commissioning. To share your knowledge and for networking you are invited to join below group which started in Feb 2008 and has been serving its devoted members https://lnkd.in/gGA_rDm and recently it has crossed 250 K members mark. The other modes are EPCM, BOOT etc.

𝗪𝗵𝘆 𝗨𝗦𝗣&𝗘 𝗚𝗲𝘁𝘀 𝗜𝗻𝘃𝗼𝗹𝘃𝗲𝗱 𝗶𝗻 𝘁𝗵𝗲 𝗘𝗣𝗖 𝗣𝗵𝗮𝘀𝗲, 𝗘𝘃𝗲𝗻 𝗮𝘀 𝗢&𝗠 𝗦𝗽𝗲𝗰𝗶𝗮𝗹𝗶𝘀𝘁𝘀 By participating early in the Engineering, Procurement, and Construction (EPC) phase, we ensure the systems and equipment we later maintain are optimised for long-term performance! Here’s how it benefits our clients: 𝗦𝗲𝗮𝗺𝗹𝗲𝘀𝘀 𝗧𝗿𝗮𝗻𝘀𝗶𝘁𝗶𝗼𝗻: We design with O&M in mind, ensuring smoother operations down the line. 𝗕𝗲𝘁𝘁𝗲𝗿 𝗗𝗲𝘀𝗶𝗴𝗻 𝗗𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝘀: Our input results in equipment that’s more reliable and easier to maintain. 𝗘𝗮𝗿𝗹𝘆 𝗥𝗶𝘀𝗸 𝗠𝗶𝘁𝗶𝗴𝗮𝘁𝗶𝗼𝗻: We identify potential operational risks early, avoiding future headaches. 𝗢𝗽𝘁𝗶𝗺𝗶𝘀𝗲𝗱 𝗣𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲: From equipment selection to efficient designs, our involvement boosts performance and reduces costs. 𝗦𝘁𝗿𝗼𝗻𝗴𝗲𝗿 𝗖𝗹𝗶𝗲𝗻𝘁 𝗥𝗲𝗹𝗮𝘁𝗶𝗼𝗻𝘀𝗵𝗶𝗽𝘀: From start to finish, we’re a trusted partner. From EPC to O&M, we’re here to drive success. Let’s build a stronger future together! #EPC #OperationsAndMaintenance #Engineering #Reliability #USP&E

Beyond the Blueprint: Unveiling the Power of EPC Contracts EPC contracts are the silent heroes behind some of the world's most impressive construction feats. But what exactly makes them so powerful? Here's a glimpse into the world of EPC: 💥One-Stop Shop: Streamline your project with a single point of contact for design, procurement, and construction! #Efficiency 💥Guaranteed Performance: Peace of mind knowing the project meets agreed-upon criteria. #Reliability 💥Faster Delivery: Shave time off your project timeline with coordinated execution. #Speed 💥Risk Transfer: Shift project risks to the contractor for a smoother experience. #Security 💥Globally Recognized: A trusted approach for large-scale projects worldwide. #ProvenSuccess Considering a major construction project? Explore the benefits of EPC contracts and see how they can empower your vision. 📞 For immediate inquiries or to discuss your project, call us at +918811054321 or +919287957365. 📧 Email directly at [email protected] and let’s discuss how we can contribute to your projects. #epc #construction #contructionmanagement #projectmanagement #dkumargroup #raftaar

𝗪𝗵𝘆 𝗨𝗦𝗣&𝗘 𝗚𝗲𝘁𝘀 𝗜𝗻𝘃𝗼𝗹𝘃𝗲𝗱 𝗶𝗻 𝘁𝗵𝗲 𝗘𝗣𝗖 𝗣𝗵𝗮𝘀𝗲, 𝗘𝘃𝗲𝗻 𝗮𝘀 𝗢&𝗠 𝗦𝗽𝗲𝗰𝗶𝗮𝗹𝗶𝘀𝘁𝘀 By participating early in the Engineering, Procurement, and Construction (EPC) phase, we ensure the systems and equipment we later maintain are optimised for long-term performance! Here’s how it benefits our clients: 𝗦𝗲𝗮𝗺𝗹𝗲𝘀𝘀 𝗧𝗿𝗮𝗻𝘀𝗶𝘁𝗶𝗼𝗻: We design with O&M in mind, ensuring smoother operations down the line. 𝗕𝗲𝘁𝘁𝗲𝗿 𝗗𝗲𝘀𝗶𝗴𝗻 𝗗𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝘀: Our input results in equipment that’s more reliable and easier to maintain. 𝗘𝗮𝗿𝗹𝘆 𝗥𝗶𝘀𝗸 𝗠𝗶𝘁𝗶𝗴𝗮𝘁𝗶𝗼𝗻: We identify potential operational risks early, avoiding future headaches. 𝗢𝗽𝘁𝗶𝗺𝗶𝘀𝗲𝗱 𝗣𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲: From equipment selection to efficient designs, our involvement boosts performance and reduces costs. 𝗦𝘁𝗿𝗼𝗻𝗴𝗲𝗿 𝗖𝗹𝗶𝗲𝗻𝘁 𝗥𝗲𝗹𝗮𝘁𝗶𝗼𝗻𝘀𝗵𝗶𝗽𝘀: From start to finish, we’re a trusted partner. From EPC to O&M, we’re here to drive success. Let’s build a stronger future together! #EPC #OperationsAndMaintenance #Engineering #Reliability #USP&E

EPC (Engineering, Procurement, and Construction) and EPCM (Engineering, Procurement, Construction Management) are two distinct project delivery models in construction. EPC 😎 In an EPC contract, the contractor takes full responsibility for the project's design, procurement, and construction, delivering a complete facility to the client. This model is often referred to as a "turnkey" solution, where the client has minimal involvement during execution. The contractor assumes all risks related to cost and schedule overruns, providing a fixed price for the entire project. EPCM 😉 Conversely, EPCM involves the contractor managing the project on behalf of the client, who retains more control over design and procurement decisions. The EPCM contractor does not perform construction but oversees multiple contractors, facilitating coordination and ensuring project objectives are met. This model is suitable for clients who wish to be more involved and manage risks directly. In summary,EPC offers a comprehensive solution with less client involvement, while EPCM allows for greater client control and flexibility.

A Practical Guide to EPC Contracting and Claim Management Engineering, Procurement and Construction Contracts for Large Scale Projects.