What is the full form of EPC?

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    • Engineering, Procurement and Construction is a type of contract more prevalent in the construction industry. Under this kind of arrangement the contractor is supposed to do the engineering (design of the structure), procure the material and then finally construct the desired requirement. Mostly an EPC contractor offloads some of his job to some other sub-contractor.
      EPC method is also used to plan and keep track of the progress of any project, where the various activities related to the project are divided into these groups.
      The advantage with EPC contract is that it transfers the ownership from owner to contractor, gives more certainty regarding the timeline and restricts fluctuations of costs. The disadvantage is that it increases the risk in case of failure of the contractor.

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