Various stages involved in EPC contracts | Engineering Management | Construction Management | Procurement Management, MITSkills, Pune - PowerPoint PPT Presentation

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Various stages involved in EPC contracts | Engineering Management | Construction Management | Procurement Management, MITSkills, Pune

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It is the era of EPC projects where the task of Engineering, Procurement, and Construction is allotted to a single contractor. EPC projects are a form of turnkey projects where the owner of the companies can live with ease as everything ranging from planning, staffing, and procuring to project completion and even the salaries of the employees are taken care of by the contractors. – PowerPoint PPT presentation

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Title: Various stages involved in EPC contracts | Engineering Management | Construction Management | Procurement Management, MITSkills, Pune


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Various stages involved in EPC contracts.
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  • Various stages involved in EPC contracts.
  • It is the era of EPC projects where the task of
    Engineering, Procurement, and Construction is
    allotted to a single contractor.
  • EPC projects are a form of turnkey projects
    where the owner of the companies can live with
    ease as everything ranging from planning,
    staffing, and procuring to project completion and
    even the salaries of the employees are taken care
    of by the contractors.
  • There are various stages that are involved in
    the EPC projects. These are as follows
  • 1.¬† Tendering
  • In this phase, the companies invite qualified and
    experienced contracts to apply for tenders. The
    Contractors fill the tender form with the entire
    cost of the turnkey projects. The companies then
    award the project to the suitable contractor.

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  • 2.¬†Mobilization and Staffing
  • Once the tender is awarded, the contractors
    undertake the process of staffing whereby they
    seek for suitable candidates and laborers for the
    different tasks involved in the project.
  • This also involves mobilizing where the
    contractors move to the site with all their staff
    and machines. They set up a site office for daily
    reporting and monitoring.
  • 3. Planning
  • Once the staffing phase is over, the next vital
    step is planning. In this stage, the project
    manager defines the scope of the project and
    plans the processes that will take place in the
    entire project cycle.
  • It forms a blueprint of the project where
    certain parameters are also set that helps in
    determining the success or failure of the project
    in the end.

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  • 4. Designing
  • Designing is an essential phase of EPC projects
    as the construction goes right only when the
    designing is done efficaciously. It also involves
    deciding the estimated quantity of materials
    required for each process.
  • 5. Procurement and Logistics
  • Procurement refers to the process of determining
    the quantities of materials and resources and
    finding sellers who sell as well as ship the
    goods at rational rates. This is an essential
    phase as it leads to optimization of cost and
    resources.
  • 6. Construction
  • Once the materials are transported to the site,
    the next vital step is the process of
    construction. The construction is done according
    to the planning and the design. Optimization of
    capital and resources are focused on this stage.
    Monitoring during the construction phase is
    imperative as it ensures that the construction is
    of top-notch quality. It also reduces the chances
    of errors.

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  • 7. Testing
  • Project testing refers to the process of
    analyzing the quality of the project. Under this
    phase, the project is tested based on various
    parameters set during the planning phase.
  • If the project meets the parameters, then it is
    successful else modifications are made to ensure
    that the project aligns with the requirements of
    the client. It is also checked that the project
    follows all the norms laid down by the
    government.
  • 8. Project Delivery/Completion Phase
  • Project Delivery or Completion phase is the
    final phase of any project. In this phase, the
    EPC contractors finish the project and hand it
    over to the companies.

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  • EPC projects are quite popular in the present
    scenario as it leads to better designing,
    cost-effectiveness, efficiency and it even frees
    the owners from day-to-day hassles that may arise
    when dealing with multiple contractors. Thus, a
    plethora of companies nowadays go for EPC
    projects.
  • For those seeking for jobs, knowledge of EPC can
    help you to land with a high-paying job. MIT
    Skills offers Advanced Post Graduate Program in
    EPC Projects. This course provides knowledge of
    vital concepts of EPC so that you can embark on
    each stage efficaciously. It is a course that
    will surely give a boost to your career.

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