Accelerated EPC Project Sequence

Benefits

• Shortest project schedule
• Lowest engineering costs
• One company responsible for all phases, turnkey
• Requires lowest degree of client project management staff and infrastructure
• Highest degree of coordination (communication) between phases

Drawbacks

• Client commits to cost and schedule based on estimates within a 25 to 40% range of accuracy
• Higher risk for changes as project develops (reflected in the estimates with lower range of accuracy)

Application

• Projects requiring shorter schedules: profit generating projects
• Common projects with standard scopes of work, reduced risks of unknowns

Traditional Project Sequence

Benefits

• Least expensive construction costs
• Phases of the project can be competitively bid
• Estimates are available on cost and schedule at each phase before client commitment to the next phase.  Estimate accuracy improves from conceptual to 40%, 10% and finally “definitive” as phases are completed
• Lower risk for changes as project develops

Drawbacks

• Longest project schedule
• Highest engineering costs
• Requires highest degree of client project management staff and infrastructure
• Requires coordination between companies

Application

• Projects without schedule pressure (i.e., non-profit projects)
• Projects with complex scopes of work
• Unique or uncommon projects which have a higher degree of unknowns, risk