What does EPCM stand for, and how is different from EPC?
The debate between EPC and EPCM companies is a long one. People often need clarification about how they should contract capital projects. The reason being there are numerous contracts that one can consider. Here are all the most commonly used arrangements are:
- Engineering procurement and construction
- Engineering procurement construction and Management.
Though the contracting methods are similar, you may find important differences that you can carefully consider while navigating the complexity of EPC and EPCM companies.
What is EPCM?
The concept of EPCM is highly well-known in the engineering world. It stands for engineering procurement and construction management. It is a contract related to professional Engineering Services, especially in constructing heavy engineering facilities and manufacturing plants across various industries. These industries include chemicals, agriculture, pharmaceuticals, energy, food and beverages, etc.
How is EPCM different from EPC?
EPC is not a service. It instead helps one to contract out the project. However, in the case of Engineering procurement, since construction and Management Services, you can get a team of engineering consultants to manage your project.
Hence, with the EPC contract’s help, engineers can completely handle the project from beginning to finish. However, the client can relinquish control of the project right from the beginning of the contract. Therefore engineers who have complete ownership of the project can make decisions with or without the client’s involvement. Such decisions may not have any transparency.
Each project comes with a unique requirement. There can be no universal rule when choosing the best approach to complete the project. A widely experienced engineer or apartment with decent knowledge about the company target can be helpful in this scenario. Choosing the approach EPCM Consultant in India that benefits the client from the expert recommendations and advice related to the project. In every step related to the project’s progress, one can enjoy a sense of ownership.
Advantages of EPCM approach
Here are some of the advantages of taking the EPCM approach.
- Well suited for every project type
- Clients can get a sense of ownership.
- It provides greater flexibility to have a better overall outcome
- Effectively reserves the client’s right in case of altering the scope.
- Clients can get complete financial control.
- The client can also benefit from the expert advice of the engineering consultants right from the planning stage to the end.
Quanta Process’ EPCM approach
At Quanta Process, you can expect a complete client-centric attitude to every operation. As the client tells the team about their needs and requirements, they listen thoroughly before using their expertise and knowledge to transform the discussion into a flexible and fully trailer practical integrated approach yielding fantastic results. In every step, the Quanta Process involves the client.
In addition, one can have distinct advantages over other firms due to the presence of experienced senior consultants. The company makes the process seamless for diverse clients. The company affords potential caps in the responsibilities while guiding every client to the process from an engineering perspective.