Importance of engineering, procurement, and construction for the industrial projects | Training in PRIMAVERA software | MITSkills, Pune

1
Importance of engineering, procurement, and
construction for the industrial projects.
http//www.mitskillsindia.com/
2

• Importance of engineering, procurement, and
  construction for the industrial projects.
• The industrial sector has gone leaps and bounds
  in the last few decades bestowed to the
  technology, robust machines, and innovations. It
  is an era where people prefer to take fewer
  hassles and get work done quickly.  
• The same principle when applied to the
  industrial sphere, led to greater reliance on the
  EPC contractors. EPC refers to engineering,
  procurement, and construction. These three terms
  are the important phases of any project that
  embark on after the investment decisions are
  untaken.
• In case of the traditional projects, several
  contractors were hired to take care of different
  aspects related to engineering, procurement, and
  construction involved within a project. This led
  to a lot of havoc on the companies as they were
  dealing with multiple contractors and worrying
  about different workers and their well-being.
  Furthermore, the companies had to keep a track of
  the payments, work details, liabilities and other
  details of all the workers which often delayed
  the projects and exceeded the budget.  Then came
  the concept of EPC contractors, where the entire
  task is allotted to a single contractor or
  company.  There are several advantages of EPC
  which are applicable to every project
  irrespective of its size or complexity.

3

• 1.  Cost Management
• When companies hire multiple contractors, then
  each contractor charges his fees and sometimes
  the bills are so big that they have to pay even
  for those expenses that were unnecessary.
• One contractor means making payment only once so
  even if he charges anything extra it will still
  be much less than the extra amount charged by
  multiple sellers.
• 2.  Time Management
• When companies deal with a single contractor,
  the payment is made once, the contract is signed
  once and there are fewer burdens on the company
  which saves a lot of time.
• Furthermore, the project is also completed on
  time since all the task is handled by one company
  which reduces the chance of any conflict or
  confusion.

4

• 3.  Minimum Liability
• With EPC contractors, the companies only need to
  worry about supplying the required goods at the
  right time so that the job is finished quickly.
• Apart from this, the entire liability on the job
  site is taken upon by the EPC provider. The
  causalities occurring on the site is also looked
  upon by the providers.
• 4.  Quality Management and Risk Management
• Since the entire project is handled by a single
  EPC contractor, there will only be a single
  project manager. It becomes easy for the company
  to elaborate their requirements and explain the
  details of the project.
• The risks can be anticipated, problems or faults
  can be identified and rectified from time to time
  till the final design is ready for approval.

5

• 5.  Project Management
• The task of project management is also carried
  out easily in case of EPC projects as there is a
  single project manager who can monitor, control
  and manage the project without the interference
  of other parties as in case of multiple
  contractors.
•  
• Since EPC projects are so much beneficial, they
  are becoming very much popular and sought-after.
  A Post Graduate program in EPC projects offered
  by MIT Skills accustoms the candidates with the
  technicalities and fundamentals of EPC projects.
• Our course includes teaching the use of
  MS-project and Primavera software which are very
  much essential for modern-day project managers.
• The course uplifts your skills and makes you
  ready to make your career in project management,
  project controls, engineering management and
  construction management.