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Engineering, procurement, and construction projects always come with the risk of claims. Whether it's an unforeseen mistake or an unknown factor, proper claim management can determine who pays for it. #riskmanagement #epcprojects #claimsmanagement More at https://lnkd.in/dtQ_Vdbv #petersmello

𝟭𝟭 𝗔𝗿𝘁𝗶𝗰𝗹𝗲𝘀 𝘁𝗼 𝘂𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱 𝗳𝘂𝗻𝗱𝗮𝗺𝗲𝗻𝘁𝗮𝗹𝘀 𝗼𝗳 𝗖𝗼𝗻𝘀𝘁𝗿𝘂𝗰𝘁𝗶𝗼𝗻 𝗖𝗼𝗻𝘁𝗿𝗮𝗰𝘁𝘀 1. EPC Contracts for Beginners https://lnkd.in/gj-eszAc 2. No Construction Contract is 100% Fair, especially for the Contractors https://lnkd.in/gZ8kn3Sc 3. EPC Vs Turnkey Project Contracts: Understanding the subtle differences- Article #22 https://lnkd.in/gcsGcyMf 4. Is the PMC a Party to an EPC Contract -Article #24 https://lnkd.in/gcKTi4gS 5. Life Cycle of A Construction Contract #Article31 https://lnkd.in/gCJ3MTMS 6. Liquidated Damages vs. Penalties in Construction Contracts: https://lnkd.in/gADxzFDs 7. Force Majeure Events vs Unforeseen Circumstances In Construction Contracts https://lnkd.in/g6jztky7 8. Who owns the Contract? Project Manager or Contracts Manager? https://lnkd.in/gADNZfbX 9. Hazards in the International Construction Business https://lnkd.in/gaUSpsfA 10. Navigating Risky Waters! Understanding Red Flag Contract Clauses in Construction https://lnkd.in/guG2VmSk 11. RISK TRANSFER IN EPC / CONSTRUCTION CONTRACTS https://lnkd.in/g3PZ74E4 ©️ Ilamparithi BoologaSundaraVijayan

A Practical Guide to EPC ( #Engineering, #Procurement and #Construction ) #Contracting and Claim #Management  #FIDIC

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

Detailed comparison between EPC (Engineering, Procurement, and Construction) and EPCM (Engineering, Procurement, and Construction Management): EPC: - Single-point responsibility - Lump-sum turnkey (LSTK) contract - Contractor assumes full responsibility for project delivery - Fixed price and schedule - Owner has limited involvement - Contractor manages design, procurement, and construction - Performance guarantees and liquidated damages EPCM: - Multiple contracts with separate vendors - Reimbursable contract with fee and expenses - Owner assumes more risk and control - Flexibility in design and construction - Owner has significant involvement - Contractor manages procurement and construction, while owner manages design - No performance guarantees or liquidated damages In EPC, the contractor bears the risk of cost overruns and schedule delays, whereas in EPCM, the owner bears these risks. EPC provides cost certainty, while EPCM offers flexibility and control. The choice between EPC and EPCM depends on the project's complexity, owner's expertise, and risk tolerance. Copied.

Detailed comparison between EPC (Engineering, Procurement, and Construction) and EPCM (Engineering, Procurement, and Construction Management): EPC: - Single-point responsibility - Lump-sum turnkey (LSTK) contract - Contractor assumes full responsibility for project delivery - Fixed price and schedule - Owner has limited involvement - Contractor manages design, procurement, and construction - Performance guarantees and liquidated damages EPCM: - Multiple contracts with separate vendors - Reimbursable contract with fee and expenses - Owner assumes more risk and control - Flexibility in design and construction - Owner has significant involvement - Contractor manages procurement and construction, while owner manages design - No performance guarantees or liquidated damages In EPC, the contractor bears the risk of cost overruns and schedule delays, whereas in EPCM, the owner bears these risks. EPC provides cost certainty, while EPCM offers flexibility and control. The choice between EPC and EPCM depends on the project's complexity, owner's expertise, and risk tolerance. Copied.

Detailed comparison between EPC (Engineering, Procurement, and Construction) and EPCM (Engineering, Procurement, and Construction Management): EPC: - Single-point responsibility - Lump-sum turnkey (LSTK) contract - Contractor assumes full responsibility for project delivery - Fixed price and schedule - Owner has limited involvement - Contractor manages design, procurement, and construction - Performance guarantees and liquidated damages EPCM: - Multiple contracts with separate vendors - Reimbursable contract with fee and expenses - Owner assumes more risk and control - Flexibility in design and construction - Owner has significant involvement - Contractor manages procurement and construction, while owner manages design - No performance guarantees or liquidated damages In EPC, the contractor bears the risk of cost overruns and schedule delays, whereas in EPCM, the owner bears these risks. EPC provides cost certainty, while EPCM offers flexibility and control. The choice between EPC and EPCM depends on the project's complexity, owner's expertise, and risk tolerance.

🚀 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

Detailed comparison between EPC (Engineering, Procurement, and Construction) and EPCM (Engineering, Procurement, and Construction Management): EPC: - Single-point responsibility - Lump-sum turnkey (LSTK) contract - Contractor assumes full responsibility for project delivery - Fixed price and schedule - Owner has limited involvement - Contractor manages design, procurement, and construction - Performance guarantees and liquidated damages EPCM: - Multiple contracts with separate vendors - Reimbursable contract with fee and expenses - Owner assumes more risk and control - Flexibility in design and construction - Owner has significant involvement - Contractor manages procurement and construction, while owner manages design - No performance guarantees or liquidated damages In EPC, the contractor bears the risk of cost overruns and schedule delays, whereas in EPCM, the owner bears these risks. EPC provides cost certainty, while EPCM offers flexibility and control. The choice between EPC and EPCM depends on the project's complexity, owner's expertise, and risk tolerance.

EPC Contracts: Key Points by: Dr Turki Alrajaan Introduction: EPC (Engineering, Procurement, and Construction) contracts are crucial for managing large, complex construction projects. They streamline project management by covering all key aspects. Concept: An EPC contract includes: 1. Engineering: Designing the project. 2. Procurement: Purchasing materials and equipment. 3. Construction: Building and installing according to the design. Benefits: 1. Comprehensive Management: The contractor handles all project aspects. 2. Fixed Cost: Provides financial certainty with a fixed price. 3. Risk Mitigation: The contractor assumes project risks. 4. Ready-for-Use Delivery: The project is delivered fully operational. Drawbacks: 1. Less Client Control: Limited influence over design and procurement. 2. Limited Changes: Adjustments can be complex and costly. 3. Dependence on Contractor: Project success relies on contractor performance. Significance: EPC contracts are ideal for large-scale projects needing efficient coordination. They enhance project execution, reduce costs, and ensure high-quality outcomes.