Risk Assessment, Analysis, Mitigation and Management of EPC is therefore, of prime importance today especially with newer risks thrown open by the global economic meltdown related risks, risk related liabilities for performance are allocated to the EPC contractor, with instruments as Liquidated Damages, Extended Guarantees, Latent Defect Liabilities etc.
Indian EPC companies really needs rise their bar in execution of EPC projects ,there is substantial risk involved in those projects, needs rise the bar in design , procurement ,safety and integrated project management to successful completion of the project.
مقارنة بين ثلاثة من الصيغ النموذجية البريطانية والدولية مع فكرة عن نموذج رابع أمريكي
FIDIC - JCT - NEC - AIA
محاضرة الشرح: https://www.youtube.com/watch?v=fVpeut_-9-0
Indian EPC companies really needs rise their bar in execution of EPC projects ,there is substantial risk involved in those projects, needs rise the bar in design , procurement ,safety and integrated project management to successful completion of the project.
مقارنة بين ثلاثة من الصيغ النموذجية البريطانية والدولية مع فكرة عن نموذج رابع أمريكي
FIDIC - JCT - NEC - AIA
محاضرة الشرح: https://www.youtube.com/watch?v=fVpeut_-9-0
- Having a brief of FIDIC
- Understand the steps and stages of Contract Management Using FIDIC.
- Understand the Role of PM during construction project to protect the organization Business case.
Assessment of Risks in International EPC Projects Reference Current Global Ec...HIMADRI BANERJI
Assessment of Risks in the present global economic environment for projects and especially projects that deal with EPC contracting for large scale infrastructure. A review of some of the major projects that have changed the rues of the game for Project Risk Assessment, management and mitigation forms a significant part of the prentation
Risk Management is a necessity in contract management. The presentation touches the need for contract risk management which is also a foundation for project risk management
Presentation by
Primary Information Services
www.primaryinfo.com
mailto:primaryinfo@gmail.com
Download PDF Version at
https://www.slideshare.net/thorapadi/presentations
See Youtube Channel
https://www.youtube.com/user/ch600091/videos?view_as=subscriber
Constructions projects have become of increasing technological complexity with relationships of those involved are also more complex and contractually varied. Additionally global trends are dramatically impacting contracting activity. Success depends on new and innovative ways to manage uncertainty and complexity.
EXTENSION OF TIME CLAIMS IN OIL AND GAS CONSTRUCTION PROJECTSHossamNegidaPMPRMPPS
This document is dedicated to projects especially in Oil and Gas field wherein, in light of rapid and continuous development of the construction process and under intense competition in order to acquire reasonable profits, they are facing naturally lot of delays and disruptions which lead to exert huge efforts for proving these delays.
Role of Project Management Consultancy in Construction ProjectIOSR Journals
The construction industry generally deals with the various types of construction sectors viz Real
Estate & Infrastructure. Real Estate Sector is segmented in Residential, Industrial, Corporate, and
Commercial. Whereas Infrastructure sector in Roads, Railways, Urban Infrastructures, Ports, Airports and
Power. To manage such kind of unique projects requires an expertise with organizations and a thorough
body of knowledge. The purpose of this paper is to provide the analysis or breakdown of Role of Project
Management Consultancy and study the Problems faced by PMC for implementing the project. Project
Management Consultancy plays multifaceted part in such projects and provides the services from inception
to completion of projects. At every stage of project life cycle, the principles of pro-activeness and creating
the win-win situation is necessary keeping in mind the customer / client’s requirements. Use of Project
Management Consultancy (PMC) offers one of the effective management solution to increase and improve the
efficiency and outcome of a project in construction. A case study of construction of a Mega Industrial Project
which is dealt by PMC and Project consist of various type of buildings for Manufacturing unit, Assembling
unit , Logistic unit , Process unit with allied Infra of Electrical utilities, Services like Fire fighting, Sewage
line, Storm water arrangement and Road etc have been considered for this research work.
- Having a brief of FIDIC
- Understand the steps and stages of Contract Management Using FIDIC.
- Understand the Role of PM during construction project to protect the organization Business case.
Assessment of Risks in International EPC Projects Reference Current Global Ec...HIMADRI BANERJI
Assessment of Risks in the present global economic environment for projects and especially projects that deal with EPC contracting for large scale infrastructure. A review of some of the major projects that have changed the rues of the game for Project Risk Assessment, management and mitigation forms a significant part of the prentation
Risk Management is a necessity in contract management. The presentation touches the need for contract risk management which is also a foundation for project risk management
Presentation by
Primary Information Services
www.primaryinfo.com
mailto:primaryinfo@gmail.com
Download PDF Version at
https://www.slideshare.net/thorapadi/presentations
See Youtube Channel
https://www.youtube.com/user/ch600091/videos?view_as=subscriber
Constructions projects have become of increasing technological complexity with relationships of those involved are also more complex and contractually varied. Additionally global trends are dramatically impacting contracting activity. Success depends on new and innovative ways to manage uncertainty and complexity.
EXTENSION OF TIME CLAIMS IN OIL AND GAS CONSTRUCTION PROJECTSHossamNegidaPMPRMPPS
This document is dedicated to projects especially in Oil and Gas field wherein, in light of rapid and continuous development of the construction process and under intense competition in order to acquire reasonable profits, they are facing naturally lot of delays and disruptions which lead to exert huge efforts for proving these delays.
Role of Project Management Consultancy in Construction ProjectIOSR Journals
The construction industry generally deals with the various types of construction sectors viz Real
Estate & Infrastructure. Real Estate Sector is segmented in Residential, Industrial, Corporate, and
Commercial. Whereas Infrastructure sector in Roads, Railways, Urban Infrastructures, Ports, Airports and
Power. To manage such kind of unique projects requires an expertise with organizations and a thorough
body of knowledge. The purpose of this paper is to provide the analysis or breakdown of Role of Project
Management Consultancy and study the Problems faced by PMC for implementing the project. Project
Management Consultancy plays multifaceted part in such projects and provides the services from inception
to completion of projects. At every stage of project life cycle, the principles of pro-activeness and creating
the win-win situation is necessary keeping in mind the customer / client’s requirements. Use of Project
Management Consultancy (PMC) offers one of the effective management solution to increase and improve the
efficiency and outcome of a project in construction. A case study of construction of a Mega Industrial Project
which is dealt by PMC and Project consist of various type of buildings for Manufacturing unit, Assembling
unit , Logistic unit , Process unit with allied Infra of Electrical utilities, Services like Fire fighting, Sewage
line, Storm water arrangement and Road etc have been considered for this research work.
Course on Regulation and Sustainable Energy in Developing Countries - Session 9Leonardo ENERGY
Session 9 is devoted to Energy Services Companies (ESCOs). First, it introduces the Energy Performance Certificates concept and EPC contractual approaches. Then, it presents the need for measurement and verifications (M&V). It presents different ESCOs models:
the utility-based ESCOs with the cases of Croatia and Uruguay;
the Governement-based ESCO with the case of India;
the private sector ESCO with the case of China.
It concludes with the examples of institutional development schemes in Tunisia and Ivory Coast.
Comparison of Design Bid Build vs. Design Build Finance Operate & MaintainBob Prieto
Design Bid Build (DBB) and Design Build Finance Operate Maintain (DBFOM) project
delivery differ in significant ways. In simplest terms, under DBB, the owner retains significant interface risk between the designer and builder and in multi-prime projects also retains integration risk across the primes.
Effectively this is the “white space” risk between each of the contracting parties and is
often not adequately considered in project planning, budgeting and schedule development. Multiple parties create difficulties in effective partnering and project
performance is adversely impacted if these risks emerge. In all instances the owner is
warranting the completeness and accuracy of the design to the contractor thus directly
holding this interface risk.
The use of a DBFOM project delivery approach significantly modifies the risk profile of
the owner as the DBFOM contractor now assumes both this interface risk as well as the
integration risk across all project elements.
M Sc - Nefert Moussa - Risk Allocation in Egyptian Construction Industrynefertsalah
Overview of MSc dissertation in Construction Engineering and Management titled " Risks Allocation in Egyptian Construction industry; Case studies in view of FIDIC forms.
Global EPC Project Management Forum 20-21 APRIL 2017 AMSTERDAM Lenka Larson
Don't miss this opportunity to join the top Oil&Gas and Energy Operators & solutions Provider For Engineering Procurement & Construction Project Management .
Arema Group's first Engineering , Procurement & Construction Project Management Summit held in Europe .
Confirmed Speakers from: SNC-Lavalin, Kuwait Oil Company (KOC), GE Power , Saipem, PETRONAS, Petrofac, Total, Lukoil, Fluor , Amec Foster Wheeler , EDF ,McKinsey & Company, University of Leeds, Mammoet ...
We have only 50 seats . For more details or registration please check the last page of the agenda .
Workshop on Plant Commissioning and Seamless Startup final.pdfHIMADRI BANERJI
Mr. Himadri Banerji a graduate of the prestigious
Indian Institute of Technology has over 35 years of
industry experience in Steel, Process and Thermal
Power Plants in India and Europe. After a stretch of 22
years in Tata Steel continued his career with such
illustrious companies as Rolls Royce, Torrent and
Reliance. His expertise includes planning, building,
testing, and start up and commissioning, besides
operating and maintaining Large Process Plants, Steel
Plants, Petrochemicals, Dyes and Paints, Cryogenic
Gases, Steam and Electric Power.
Mr. Banerji brings a diverse range of experience in
successful commissioning, having personally led start
up and commissioning teams for plants consisting of
large High Speed Rotary Equipment like Axial and
Radial Compressors, Steam and Gas Turbines, Water
Pumps, Temporary Power Solutions with Medium and
Large Diesel and Gas Engines, Static Systems like
Chemical Reactors, Air Separation Units, Process
Instrumentation and Control, CFBC, AFBC and PF
Steam Generators. His work also encompasses other
Plants like Water Treatment, Effluent Treatment
Plants, Reverse Osmosis and De-mineralising and Desalination
Plants.
He has also recently designed and implemented
chemical regimes for Control of Steam and Water
Cycle Chemistry during Start-up of Super-critical
Power Plants based on Union of the Electricity
Industry – EURELECTRIC guidelines an association of
the Electricity Industry within the European Union.
Dr Banerji regularly chairs and speaks at international
conferences and workshops on Procedures and
Systems for Managing Risk during Start-up and
Commissioning of plants. He has lectured widely in
various countries like Singapore, Malaysia, Indonesia, India
Brochure on Two Day Workshop on Plant Commissioning and Seamless Start Up By ...HIMADRI BANERJI
Overview of the wokshop:
To gain practical insights into:
Redefining the responsibilities of various departments to ensure a flawless start-up.
Ensuring that safety measures are put in place to
ensure zero LTIs during commissioning and startup.
Benchmarking your commissioning practices
against previous commissioning and start-up experiences.
Acquiring risk management techniques for better
prediction of what can go wrong during the commissioning and start-up process and identify
and plan effective mitigation measures.
Accelerating the ROI of your plant through proper
planning and management of resources during the
commissioning process.
Capturing the essence of commissioning and startup
in Greenfield and Brownfield Scenarios.
Gas Turbines Failures Applications & Root Cause Analysis.pptxHIMADRI BANERJI
SUBJECT PRESENTED AS CLASS ROOM LECTURES FOR ASSTT ENGINEERS OF ELECTRIOCITY GENERATION COMPANY OF BANGLADESH
2014-2017
HIMADRI BANERJI
INTERNATIONAL EXPERT GAS TURBINES
The aims of the O&M of Gas Turbines Workshop is to share the experiences of our internationally renowned expert with an aim to prevent such incidents and also to examine the factors and opportunities to increase plant safety, environmental performance. And improve uptime and availability all factors contributing to higher profitability.
The workshop will also examine scheduled maintenance and turnarounds which are opportunities to increase plant safety and environmental performance. By enhancing the mechanical integrity of HPI facilities, operating companies can achieve and maintain higher uptime and equipment availability; all are factors that contribute to higher profitability. Best-of-class companies hold the mindset that reliability programs provide great benefits. Investing in new monitoring and conditioning systems, along with preventive maintenance and inspection programs, can optimize unit and total facility performance.
The development of dry low NOx (DLN) combustors for gas turbines has cut the industry's consumption of water, while dramatically slashing air emissions. Unfortunately, this environmental enhancement has created an engineering challenge: The lean-burning DLN combustors are prone to flame instability, which can cause pressure pulsations large enough to destroy the combustor, launching debris downstream where it annihilates other hot-gas-path components. To detect and correct flame instability before it causes millions of dollars of turbine damage, savvy users have begun to install advanced sensors and robust software that monitor the combustor dynamics in real time.
High dynamics can limit hardware life and/or system operability. Thus, there have been various attempts to control combustion dynamics, to prevent degradation of system performance. There are two basic methods for controlling combustion dynamics in an industrial gas turbine combustion system: passive control and active control. As the name suggests, passive control refers to a system that incorporates certain design features and characteristics to reduce dynamic pressure oscillations. Active control, on the other hand, incorporates a sensor to detect, e.g., pressure fluctuations and to provide a feedback signal.
Which, When suitably processed by a controller, provides an input signal to a control device. The control device in turn operates to reduce the dynamic pressure oscillations. The workshop will examine the factors and the issues associated with combustor dynamics, and technologies like AMFM/CFM.
Benefits ofAttending
• LEARN best and effective practices in operations and maintenance of Gas Turbine Based Power Plants
• LEARN how to write and use SOPs
• IMPROVE your plants’ energy efficiency and availability
• ACHIEVE productive and safe operation
• NETWORK with other power plant professionals
• RECEIVE practical information for your CAPEX and OPEX expenditure budget planning
• LEARN about strategic procurement of High Value Spares and insurance
Making Artificial Intelligence Work in Managing ChangeHIMADRI BANERJI
“Making Artificial Intelligence (AI) Work In Managing Change ” is a Capability Improvement webinar which has been stitched together by a two member team comprising of a Senior CEO level Oil Gas and Energy Sector business executive who in his professional career spanning over decades has led multiple projects in digital
transformation in decision support systems in top organizations in the country and abroad in the contexts of
competion and uncertainty and an a senior IT expert who has hands on experience in designing the
configurations of hardware and the associated software in Digital Transformations in various areas including
Data Analysis, Machine Learning, Deep Learning, Neural Networks for implementing state of the art Artificial
Intelligence Systems in the Silicon Valley.
Two Day Integrated Workshop on “AI and Machine Learning for
Business Transformation”
It is essential for the success of every organization to stay ahead of the rapidly changing market by having access to
reliable and trustworthy information. Across the AI world, AI challenges are being converted by innovators into
tomorrow's business opportunies.
Success in this environment will depend on the speed of analysis and decision making, addressing customer needs
upskilling workforces and geng the right person to work on the right opportunity.
This one-of-a-kind integrated AI workshop enables you to dive deep into new depths of understanding and insights
into how AI is transforming work in organizaons. This workshop will unlock the right Data-driven AI techniques
and opportunities for project implementation in your organization that will set your business apart.
The methodology and techniques which enable machines to mimic human behavior and nature
are known as artificial intelligence. Machine learning is a subset of AI which allows a machine to
automatically learn from past data without explicit programming.
Risk management in nuclear projects and strategy of small reactors [compatibi...HIMADRI BANERJI
This technical document on risk management as a tool for improving nuclear power
plant (NPP) operations is part of an ongoing project on management of NPP operations in a
competitive environment. The overall objective of this project is to assist the management of
operating organizations and NPPs in identifying and implementing appropriate measures to
remain competitive in a rapidly changing business environment.
Lng project risk and appraisal 2012 final 03092012HIMADRI BANERJI
LNG Terminal is the disruptive technology becoming the most popular solution for countries needing natural gas for their power, fertiliser and transport sectors. This presentation is to understand the Risk Management, Financing, and insurance issues connected with this industry
FSRU (Floating Storage and Regasification Unit) LNG Terminal is the disruptive technology becoming the most popular solution for countries needing natural gas for their power, fertiliser and transport sectors. This presentation is to understand the Risk Management, Financing, and insurance issues connected with this industry
Risk management during start up and commissioning of super critical once thro...HIMADRI BANERJI
The Allowable Water and Steam Chemistry Regimes for Supercritical Units have been identified along with maximum deviations during start up and commissioning. This presentation gives guidelines for contracting norms to avoid damages.It is for the EPC Contractors in charge of construction of these units to understand the risks associated and design organizational skills both in technical and commercial areas to avoid major delays and damages.
FSRU (Floating Storage and Regasification Unit) LNG Terminal is the disruptive technology becoming the most popular solution for countries needing natural gas for their power, fertiliser and transport sectors. This presentation is to understand the Risk Management, Financing, and insurance issues connected with this industry
Managing Smart Grids, Power System Networks with Analytics HIMADRI BANERJI
Big Data is playing a significant role in managing effectively the data analytics requirement from the infrastructure arising out of smart grid implementation n T&D Utilities..The presentation looks at some of the major issues and initiatives.
Liquefied Natural Gas project risk and appraisal HIMADRI BANERJI
Fundamentals of the LNG business value chain and project and risk appraisal. This includes understanding the dynamics of the international LNG market covering the pricing mechanisms, regional and global market drivers, and the behaviour of importing and exporting countries, LNG trade flows, Asian LNG market and indexation mechanisms, various kinds of contracting structure, detailed understanding of derivatives and arbitrage opportunities.
Challenges in building the 21st century energy infrastructureHIMADRI BANERJI
Major Challenges in Building the 21st Century Energy Infrastructure are discussed. The concepts of Risk Management is introduced with subtlety in its impact on meeting such challenges. A treatise on project management with risk mitigation for infrastructure projects, Presentation taken from lectures on Infrastructure Capital Management delivered to the class of 2010-11 at IIM Ahmedabad,
Thermal coal upgradation and conversion in india ibc asia, jakarta april 25, ...HIMADRI BANERJI
PRIORITIES ON ENERGY GENERATION SECTOR ARE:Increased use of Advanced Fossil Fuel Technology, Promote CCT where coal is main stay fuel for Power Generation AND Reduce Atmospheric Pollution from Energy Generating Systems WHILE Ensuring energy security . India's initiatives in using the low rank coals like lignite, or the high ash coals are dicussed.
Clean Coal Technology:Indian Perspective by Himadri Banerji HIMADRI BANERJI
The clean coal technology (CCT) market is likely to see substantial spending over the next decade as governments and industry alike invest in R&D, installation, and operation in this growing market. The emergence of clean coal technologies has created market opportunities for equipment manufacturers and utilities. Presented here is the Indian perspective from the talk given at TREC STEP program on invitation from E&Y at REC Tiruchirapalli on 25th Jan 2012
World Class Manufacturing:Plant Start Up and Commissioning Procedure HIMADRI BANERJI
Essential Ingredient of World Class Manufactring is a procedure for plant start up and commissioning. It is observed that the maximm damage in the life of a plant occurs at start up and the remnant effect of this damage to life an be significant. This presentation 0f 180 slides takes the reader through a step by step procedure which if followed strictly can give a safe and risk free plant start up.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
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3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
What are the main advantages of using HR recruiter services.pdf
Risk Assessment, Mitigation And Management In Epc Projects With Case Study By Dr. Himadri Banerji
1. EPC CONTRACTS: RISKS IN MEGA EPC PROJECTS
Agenda for Presentation
EPC Contract Fundamentals:
Fixed Price Contract
Economic Benefits
1/7/2010
EPC Contract Fundamental: Some Questions
Contracting Strategy
Contract Performance Risks
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
Graphs and Figures
Revenue Profile For a Typical EPC Contract
Execution Risk As EPC Contract Progresses
Execution Risk As Cost Plus Contract Progresses
Relative Risk Reward Profiles of Different Contract Strategies
EPC Contract Execution Risks: Owner Contractor
Interactions
Owner Demands and Oversights
Contractor Pressures
Disputes: Causes and Possible Reasons
Summary Research Findings: Risk Management
1 Case Study in Risk Management:
“EPC Contract Risk Assessment and Mitigation During
Economic Meltdown”
2. EPC Contract: Advantages
Fixed Price Contract, Negligible Escalation
Design-build/engineer, procure, construct EPC
contracting can potentially save millions of
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
dollars up front, as well as dollars paid in
change orders while construction proceeds.
Hardly any escalation in costs occur
Contractor brings to fore the best practices in
project management
Timely Execution and Project earnings Start
2 Faster
Life Cycle Cost of Project Diminishes.
3. EPC Contract Fundamental: Some Questions
Owners often question whether the
checks and balances are in place and
question who really pays for alterations
in design.
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
Owners look toward the design-
build/EPC contractor to be the one stop
shop and the last stop for all the costs to
be incurred for a project—from inception
to project closeout.
Thus, change becomes an issue that may
not be well defined in today’s design
3 build/ EPC construction environment.
4. EPC Contract Fundamentals: Some Questions
In a changing world, what does uncertainty mean
for the design-build/EPC industry?
What do the current world economic conditions, as
well as the current U.S. economic conditions mean
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
to a design-build/EPC contractor wanting to play in
the construction industry today?
How do factors such as labor supply restrictions,
loss of intellectual knowledge, and gap in fund
availability for the infrastructure projects pose
challenges to a design-build/EPC contractor
wanting to play in say E&P or Power Sector.
4
5. EPC Contract Fundamentals: Contracting Strategy
Contracting Strategies
The design-build/EPC process merely establishes the
roles and relationships among the key members of the
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
project team.
To achieve the specific project goals, however, the
delivery system must be compatible with the owner’s
contracting methodology and procurement process.
One of the single most important decisions that any
design-build/EPC contractor will make is on the type of
5 contract that it enters into with an owner.
The contract strategy represents the way in which the
delivery
6. EPC Contract Fundamentals: Contracting Strategy
Contract Performance Risks
Systems are packaged and paid for by the owner.
Owner will insist via the contract provisions that the
contractor, in return for being paid to execute those
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
functions,
-also accepts the risks of performing
-those functions according to the standards
-and conditions laid down in the contract
6
7. EPC Contract Fundamentals: Contracting Strategy
Contract Performance Risks
Typically, in fixed-price contracting, any unforeseen cost is
not strictly underwritten within the original contract and
likely to be assumed by the contractor.
The fixed price that envelops the contract should
accommodate a worst-case scenario if execution risks
become a reality.
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
This buffer is calculated in the form of a contingency and
can represent up to 15% of the asking price.
The best case scenario is that these are not exercised, in
which situation they are released and materialize as
additional “cream” on top of the base price/margin.
7 In the worst-case scenario, these risks exceed the
contingencies put in place and erode the base margin to an
extent that the contractor loses money on the project
8. EPC Contract Fundamentals: Contracting Strategy
Contract Performance Risks
When the contractor provides a price for the design build/
EPC scope, it is obligating itself to provide the
project scope and quality that meets the owner’s
requirements functionality,
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
affirms can be accomplished within the time
required timeliness, and thus
affirms that its costs are sufficient to meet both
requirements in terms of resources labor,
equipment, and so on—all for a fixed cost.
8
9. EPC Contract Fundamentals: Contracting Strategy
Contract Performance Risks
Contractors initially welcomed the lion’s share of risk on EPC
projects in return for the significant profit potential that could be
derived from having simultaneous control over
design,
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
procurement, and
construction and
any resulting efficiencies in cost and schedule.
9
10. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
Revenue Profile Rebased to 1 for a Typical EPC Contract
10
11. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
Typical Amplification of Execution Risk As EPC Contract Progresses
11
12. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
Typical Amplification of Execution Risk With Cost Plus Contract
12
13. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
Relative Risk Reward Profiles of Different Contract Strategies
13
14. EPC Contract Execution
Owner Contractor Interactions: Owner Demands
However many owners demand
Increased role in the design process,
Heightened fast-track completion requirements,
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
Enhanced performance guaranties
Owner supplied equipment
With no corresponding assumption of risk, and without a
proper change management process defined in the EPC
Contract for such interventions.
14
15. EPC Contract Execution
Owner Contractor Interactions: Contractor Pressures
Risks associated with third-party technology and
equipment supplied by owner equipment
manufacturers (OEMs) increasingly shifted to the
contractor.
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
Contractors bid on EPC projects where they were
Unable to adequately utilize value engineering
Unable to Innovate to Balance
15
Forced to swallow increase in risk.
16. EPC Contract Execution
Owner Contractor Interactions: Consequences
Profit margins declined,
Owner penalties increased,
EPC contractors were caught in the squeeze.
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
Not surprisingly, contractors met the increase in risk
with higher pricing, thereby depriving owners of the
cost savings EPC projects were intended to provide.
Even worse, the incidence of disputes soared, often
followed by protracted and costly litigation.
16
17. EPC Contract Execution
Owner Contractor Interactions: Disputes
A recent survey of construction trends in Power
Plants in US, Europe and Asia and Middle East
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
By BASmS Business Intelligence Group
found that there has been a significant
Increase in construction related disputes over
the past few months
The survey also found that the disputes were
much more prevalent on complex projects
17
costing more than $500 million
18. EPC Contract Execution
Owner Contractor Interactions: Disputes
Thus the major causes of disputes and claims:
1.Architect/engineer error and omission,
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
2.Excessive change orders and owner/contractor
interference.
Less frequent causes mentioned were
18
differing site conditions,
acceleration issues and
non-performance of subcontractors.
19. EPC Contract Execution
Owner Contractor Interactions: Disputes
Possible Reasons
Tighter current global economic environment…
fight harder for every dollar
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
leads to hard-line negotiations,
tough contract terms and
strict enforcement of contract language.
19
20. Summary of Research Findings
Recent project experience and recent
trends within the construction industry
indicate that executing projects is going
to be more difficult and more risky in the
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
future.
Understanding these risks and their legal
implications will be critical so that both
the owners and the design-build/EPC
contractors can be successful.
EPC Contracting with negotiated alliance
and change management processes built
in may be more viable alternatives.
20 Rigorous Use of Risk Management
Techniques will become a necessity for
EPC Contractors while Bidding, Planning
and Executing.
21. Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
Managing Risks
As an integral part of sound project
management practices,
Risk management is a systematic and
proactive approach to reduce uncertainties
21
22. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
22
23. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
23
24. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
Risk Assessment and Mitigation During Economic
Case Study in Risk Management: EPC Contract
Meltdown.
24
25. EPC Contract Risk Assessment and Mitigation During Economic
Meltdown.
1..EPC Risk Dynamics
Measures of Economic Downturn and Macro Impacts
Six Macro Economic Factors
GDP
Global Equities
Exchange Rates, Capital Flows and Chinese Yuan
Manufacturing and Industrial Production
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
Oil Price Volatility and E&P Spending
Oil Price Volatility and E&P Cost Dynamics
2.EPC Risk Analysis and Mitigation :
Risk Allocation
Insurance and Hedging
3.EPC Projects Data : Value at Risk
Projects Affected
Research Findings
4.World’s Largest EPC Contractors
25 Backlog and Impact on Global Forward Manufacturing
5. Thank You
26. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
Economic Downturn and Macro Impacts: The Six Factors
26
27. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
Economic Downturn and Macro Impacts on GDP Growth
27
28. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
Economic Downturn and Macro Impacts on Global Equities
28
29. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
Economic Downturn and Macro Impacts on
Exchange Rates and Capital Inflows
29
30. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Chinese Yuan: Government Manipulated Exchange Rates
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
Economic Downturn and Macro Impacts
30
31. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
Economic Downturn and Macro Impacts on Manufacturing
31
32. Economic Downturn and Macro Impacts on Industrial Production
Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
32
33. Economic Downturn and Macro Impacts:
E&P Costs Escalate and Fall In Meltdown
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
Dynamics
Of Risks
33
E&P IHS/CERA Upstream Capital Costs Index
34. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
Economic Downturn and Macro Impacts:
Exploration and Production Spending
Oil Price Volatility and
34
35. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
35
36. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
36
37. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
37
38. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
Risk Analysis Mitigation Insurance
38
39. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
Risk Analysis Mitigation Risk Transfer Instruments
39
40. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
40
41. MANAGING EPC RISKS IN MEGA EPC PROJECTS
RECOVERY FROM THE DOWNTURN
The Projects Affected During Transition
1.Ras Tanura Integrated Project (RTIP)
2.Pearl GTL
3.Petro Rabigh Refinery Upgrade
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
4.Shah Sour Gas Field Development
5.Khurais Oilfield
6.Manifa Offshore Oilfield
7.Saudi Kayan Petrochemicals Complex
8.Hassyan Power & Desalination Plant
9.Ras Girtas Power Project
10.Shaybah Phase 2 Expansion
41
Total cost: $114.5 billion
The countries behind our project list are Saudi Arabia,
Qatar and the UAE, where energy and infrastructure projects
on a world-leading scale continue to progress.
With almost US$120 billion worth of critical energy and infrastructure projects
up for grabs
42. MANAGING EPC RISKS IN MEGA EPC PROJECTS
RECOVERY FROM THE DOWNTURN
EPC Companies Who Matter
1. Bechtel (USA)
2. Technip (France)
3. Aker Solutions (Norway)
4. Chiyoda Corporation (Japan)
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
5. SNC-Lavalin Group (Canada)
6. J. Ray McDermott (USA)
7. JGC Corporation (Japan)
8. Hyundai Heavy Industries (South Korea)
9. Foster Wheeler (USA)
10. Daelim Industrial Company (South
Korea)
42
43. MANAGING EPC RISKS IN MEGA EPC PROJECTS
RECOVERY FROM THE DOWNTURN
EPC Companies Who Matter..Contd
Fluor, Foster Wheeler, Shaw Group, Jacobs,
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
Technip, Toyo, JGC, Toyota, and GS
Engineering in Korea, they typically win the
majority of the work. As their backlogs
increase that’s a clear barometer that
equipment will be ordered going forward and
are signals for the manufacturers to start
forward Planning.
43
44. Projects Today
1. Nassiriya Oilfield (Iraq)
2. Integrated Gas Development Project
(UAE)
3. South Pars Gas Field (Iran)
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
4. Jubail Export Refinery (Saudi Arabia)
5. Tianjin Petrochemicals Complex
(China)
6. Touat Gas Field (Algeria)
7. Gassi Touil Gas Field (Algeria)
8. Skikda Refinery Upgrade (Algeria)
44 9. Sipchem Polyvinyl Plants (Saudi
Arabia)
10. Borouge (UAE)
45. Projects Today
1. Trans Sahara Pipeline
2. Al-Shaheen Refinery
3. Nabucco Pipeline
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
and 5th May 2009 by
Presented at the World Engineering Congress Bangkok 4th
4. Yanbu Export Refinery
5. Khalifa Point & Fujairah
Refineries
6. Jubail Export Refinery
7. Integrated Gas Development
45
8. Abu Dhabi Crude Oil Pipeline
9. Kuwait Oil Co drilling platforms
10. Oman oilfield services contract
46. Presented at the World Engineering Congress Bangkok 4th
and 5th May 2009 by
Dr. Himadri Banerji CMD BASmS Pvt. Ltd.
46
Thank You
46