What is EPC Contract?

If we want to learn and implement projects controls, we need to begin from the contract.

Contract is a governing tool of the project and everything happens under its purview. This is applicable to PC as well, So unless we align the PC function with the Contract, PC function cannot deliver the required objectives.

In the picture, you can see the typical sequence of key events during EPC contracts.

The key events are the issue of tender documents, submission of bid, signing of contract, commencement date, timeline for completion, any delays, the defect liability period and finally the issuance of Performance certificate to the contractor

In this figure, any delays occurring either attributable to contractor or owner is depicted. It takes place in this sequence. The completion date is achieved after physical completion of the work not after reaching contractual completion date.

The Contractual Completion Date is amended by implementing Change order process as given in the contract.

Thoughts?

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