1. NAME:- SAGNIK BHATTACHARJEE
STREAM:- CIVIL ENGINEERING
YEAR:- B-TECH 3RD YEAR 6TH SEM
ROLL NO.:- 27901321011
SUBJECT:- Construction Management
SUBJECT CODE:- CE(PC)601
KALYANI SHILPANCHAL, PO+P.S. – KALYANI,
DIST – NADIA, WEST BENGAL – 741235, INDIA
2. Introduction
EPC contract the contractor designs the installation, procures the
necessary materials and builds the project, either directly or by
subcontracting part of the work. In some cases, the contractor
carries the project risk for schedule as well as budget in return for a
fixed price, called lump sum or LSTK depending on the agreed
scope of work.[1] When the scope is restricted to engineering and
procurement, this is referred to as an EP, E and P or E+P contract. This
is often done in situations where the construction risk is too great for
the contractor or when the owner does the construction
3. IMPORTANCE OF EPC
An owner decides for an EPC contract for reasons that include
• Reduced stress for owner
• easy work and growth of the company.
• Single point of contact for owner simplifies communications.
• Ready availability of post-commissioning services
• Ensures quality and reduces practical issues faced in other ways[clarification
needed]
• Owner protected against changing prices for materials, labor, etc.
• Cost is known at the start of the project
• Scope and the specifications of the plant
• Quality
• Project duration
• Cost
• The cost (the price to be paid to the EPCC) is negotiated and finalised and
paid in mutually agreed installments.
![Introduction
EPC contract the contractor designs the installation, procures the
necessary materials and builds the project, either directly or by
subcontracting part of the work. In some cases, the contractor
carries the project risk for schedule as well as budget in return for a
fixed price, called lump sum or LSTK depending on the agreed
scope of work.[1] When the scope is restricted to engineering and
procurement, this is referred to as an EP, E and P or E+P contract. This
is often done in situations where the construction risk is too great for
the contractor or when the owner does the construction](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)