The objective of today’s video is to introduce the concept of an EPC (EPC) contract. The following key terms will be discussed:
1) The concept of Engineering Procumbent and Construction (EPC) & Engineering Procurement and Construction Management (EPCM).
2) Types of projects executed under an EPC & EPCM contract type.
An EPC contract is a common form of a contracting arrangement within the construction industry. The two most common types of construction contracts are EPC “turn-key” and EPCM. Each of these methods has variations that can be adapted to each project as needed (EPC).
EPC is the phase during which the bulk of the project work is carried out. It may represent 80% of the skilled EPC management, supervision man-hours and 95% of manual construction manhours.
#EPC #EPCM #ProjectManagement #EPCvsEPCM
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