Engineering, Procurement, and Construction (EPC) firms offer a wide range of added benefits and value to customers by consolidating the various aspects of engineering and building. In order to maximize these benefits and reap the greatest reward, it is essential that best EPC practices be followed. Key EPC practices to look for when selecting an EPC firm include the following.
Smooth Integration – One of the most basic necessities of a good EPC firm is that it firmly integrate the various aspects of engineering, procurement, and construction. Consolidation of these phases should yield better quality, efficiency, and savings, but only if there is a smooth transition between them and only if the firm operates according to the big picture.
Excellent Reliability – Because the EPC firm is handling a comprehensive range of responsibilities and tasks, it is better able to organize and execute these various duties, while also anticipating and avoiding or minimizing problems. This results in excellent reliability and dependable, quality outcomes.
Effective Risk Management – The key to any safe, effective construction-oriented company, including an EPC firm is in effective risk management. If poorly managed, construction sites are potentially very dangerous environments that are ripe for serious accidents, both in terms of human injury and corporate expense. Good risk management helps minimize this danger.
Well-Timed Procurement – One of the best aspects of an all-in-one EPC firm is in well-timed procurement. Necessary supplies and materials should arrive on time without cutting it too close and potentially delaying operations, yet also without arriving so early that they get in the way or require major long-term storage. A good EPC firm minimizes costs and maximizes convenience and efficiency with well-timed procurement.
Clear Communication – The EPC firm is handling several key functions for the client and thus clear, effective communication is essential. Delays and schedule changes should be handled in a forthright, direct manner, while at the same time routine status reports and updates should be available. An all-in-one EPC firm should also help minimize some of the logistical burden to the customer associated with communicating with multiple entities.
Good Cost Control – Good cost control is another fundamental element of best EPC practices. The duration and scope of industrial projects can easily balloon if left unchecked, resulting in exceeded budgets and cash flow problems. A good EPC firm will monitor costs closely, provide accurate, realistics estimates, and keep detailed records.
Emphasis on Quality – Another basic but essential best EPC practice is an unwavering emphasis on quality. The EPC firm should take pride in the work it does and strive for excellence in all its undertakings. This should go for the small things as well as the big things and it should be a constant ethos embodied by the attitude of the firm.
This sampling of best EPC practices, while important, is only part of the story. Another crucial element that must not be overlooked is the firm’s experience, resources, and capabilities. Finally, the EPC firm should also work well with the client company, putting them at ease and giving them confidence in the project as a whole. At Polaris we are committed to outstanding EPC practices and we take pride in delivering only the best service and value to our clients.