Infrastructure And Energy Quarterly (April, 2015)

Engineering, Procurement and Construction:

Contemporary Challenges in Engineering, Procurement and Construction Arrangements

Engineering, Procurement and Construction (EPC) forms the soul of project development across various sectors, which is critical for sustaining the robust growth of the Indian economy. The success of any project is directly dependent on the successful implementation and completion of EPC. EPC contracts are the tool to achieve this purpose. In this article it is our endeavor to highlight some of the challenges involved in an EPC arrangement  from the perspective of the project developer and the contractor.

The two critical components of project development are time & cost. The parties would always seek to avoid delay in project completion and cost overrun.