Project managers are grappling with a variety of risks today as a result of increasing complexity and dynamics of projects in different stages of project life cycle. Thus, it seems quite necessary to employ an efficient risk management process that can overcome the shortcomings of traditional methods in order to handle such complexities and reach the optimal project management. This matter is e...

Project managers are grappling with a variety of risks today as a result of increasing complexity and dynamics of projects in different stages of project life cycle. Thus, it seems quite necessary to employ an efficient risk management process that can overcome the shortcomings of traditional methods in order to handle such complexities and reach the optimal project management. This matter is e...

engineering – procurement and construction (epc) contract is one of the current contracts in the today world. when governmental sector trends to use the expertise of domestic or foreign private in engineering and construction of infrastructural projects, finds epc contract as a suitable legal frame. in this article, we have tried to discuss about the most important legal aspects of this kind of...

EPC projects are promising all over the world, though the management of EPC projects at present did not seem scientific and systematized particularly in the developing countries. As EPC projects are diversified in knowledge which covers different professional fields, lifecycle periods and stakeholders, the knowledge integration not only helps solve the problems of management inside the current ...

The most important aim of every project is on time completion, budget consideration and reaching the highest possible quality, based on contract. This paper suggests a methodology for risk management in engineering, procurement, and construction (EPC) projects. Risk management enables project teams to perform with minimum deviation from predetermined goals. The proposed methodology identifies a...

More extensive personalized product requirements and shorter life cycles have put forward higher for the rapid establishment, commissioning, operation of corresponding manufacturing systems. However, traditional system development process is complicated, resulting in a longer delivery time. Many enterprises, especially small micro may not necessary knowledge or capabilities to meet these requir...

Two new types of hierarchy probability cost analysis (HPCA) model incorporating money allocated is money spent (MAIMS) principle based on definite work breakdown structure (WBS) level for EPC (engineering, procurement and construction) projects are presented. The proposed models have skillfully solved dilemma to appropriate cost elements and maximize the efficiency of information for cost risk ...