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Engineering, Procurement, And Construction
Engineering, procurement, and construction (EPC) contracts (a type of turnkey contract) are a form of contract used to undertake construction works by the private sector on large-scale and complex infrastructure projects. Overview Under an EPC contract, a contractor is obliged to deliver a complete facility to a developer who needs only "turn a key" to start operating the facility; hence EPC contracts are sometimes called turnkey construction contracts. In addition to delivering a complete facility, the contractor must deliver that facility for a guaranteed price by a fixed date and it must perform to the specified level. Failure to comply with any requirement will usually result in the contractor incurring monetary liabilities. The EPC contractor coordinates all design, procurement and construction work and ensures that the whole project is completed as required and in time. They may or may not undertake actual site work. Various abbreviations used for this type of contract are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Turnkey
A turnkey, a turnkey project, or a turnkey operation (also spelled turn-key) is a type of project that is constructed so that it can be sold to any buyer as a completed product. This is contrasted with build to order, where the constructor builds an item to the buyer's exact specifications, or when an incomplete product is sold with the assumption that the buyer would complete it. A turnkey project or contract as described by Duncan Wallace (1984) is: Turnkey contract is typically a construction contract under which a contractor is employed to plan, design and build a project or an infrastructure and do any other necessary development to make it functional or ‘ready to use’ at an agreed price and by a fixed date. In Turnkey contracts, most of the time employer provides the primary design. The contractor must follow the primary design provided by the employer. A turnkey computer system is a complete computer including hardware, operating system and application(s) designed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arab States Of The Persian Gulf
The Arab states of the Persian Gulf refers to a group of Arab states which border the Persian Gulf. There are seven member states of the Arab League in the region: Bahrain, Kuwait, Iraq, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. Yemen is bound to the six countries of the Gulf Cooperation Council, based on history and culture. The term has been used in different contexts to refer to a number of Arab states in the Persian Gulf region. The prominent regional political union Gulf Cooperation Council includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. Historically, various British Empire protectorates, including the Trucial States were Arab states along the Persian Gulf. Politics Some of the Arab states of the Persian Gulf are constitutional monarchies with elected parliaments. Bahrain ('' Majlis al Watani'') and Kuwait ('' Majlis al Ummah'') have legislatures with members elected by the population. The Sultanate of Oman a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kingdom Of Saudi Arabia
Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the fifth-largest country in Asia, the second-largest in the Arab world, and the largest in Western Asia and the Middle East. It is bordered by the Red Sea to the west; Jordan, Iraq, and Kuwait to the north; the Persian Gulf, Qatar and the United Arab Emirates to the east; Oman to the southeast; and Yemen to the south. Bahrain is an island country off the east coast. The Gulf of Aqaba in the northwest separates Saudi Arabia from Egypt. Saudi Arabia is the only country with a coastline along both the Red Sea and the Persian Gulf, and most of its terrain consists of arid desert, lowland, steppe, and mountains. Its capital and largest city is Riyadh. The country is home to Mecca and Medina, the two holiest cities in Islam. Pre-Islamic Arabia, the territory that constitutes modern-day Saudi Arabia, was the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Qatar
Qatar (, ; ar, قطر, Qaṭar ; local vernacular pronunciation: ), officially the State of Qatar,) is a country in Western Asia. It occupies the Qatar Peninsula on the northeastern coast of the Arabian Peninsula in the Middle East; it shares its sole land border with Saudi Arabia to the south, with the rest of its territory surrounded by the Persian Gulf. The Gulf of Bahrain, an inlet of the Persian Gulf, separates Qatar from nearby Bahrain. The capital is Doha, home to over 80% of the country's inhabitants, and the land area is mostly made up of flat, low-lying desert. Qatar has been ruled as a hereditary monarchy by the House of Thani since Mohammed bin Thani signed a treaty with the British in 1868 that recognised its separate status. Following Ottoman rule, Qatar became a British protectorate in 1916, and gained independence in 1971. The current emir is Tamim bin Hamad Al Thani, who holds nearly all executive and legislative authority under the Constitution o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Federation Of Consulting Engineers
The International Federation of Consulting Engineers (commonly known as FIDIC, acronym for its French name ''Fédération Internationale Des Ingénieurs-Conseils'') is an international standards organization for construction technology and consulting engineering. The organization is best known for the FIDIC suite of contract templates. History There were 59 participants at the inaugural meeting during a World Exhibition in Ghent, Belgium, in July 1913, called to discuss the possibility of forming a global federation of consulting engineers. Of these, 19 were official delegates from the US, Belgium, Denmark, France, Germany, Netherlands and Switzerland, with the remainder coming from Austria-Hungary, Canada, Russia and the UK. This meeting led to FIDIC's formal constitution being adopted on 22 July 1993. Some countries maintained only provisional links during the first few years. The founding members of FIDIC were Belgium, France and Switzerland. FIDIC led a difficult life until ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
EPCI
EPCI stands for Engineering, Procurement, Construction and Installation, a common form of contracting arrangement within offshore construction. The acronym ''EPIC'' for ''Engineering, Procurement, Installation & Commissioning'' is also used. Under an EPCI contract, the contractor will design the structure(s), procure the necessary materials, undertake construction and transportation and set it up at the offshore site. The contractor does this either through own labor or by subcontracting part of the work. The contractor carries the project risk for schedule as well as budget in return for a fixed price, called lump sum or LSTK depending on the agreed scope of work. In EPCI contracts, the contractor rarely carries the project risk unconditionally. Rather, contractor and customer have detailed discussions on the division of the risk. Risk of delays and cost overruns due to lacking weather windows is an example of a typical risk that may be borne by the customer rather than the con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Construction Management
Construction management (CM) is a professional service that uses specialized, project management techniques and software to oversee the planning, design, construction and closeout of a project. The purpose of Construction management is to control the quality of a project's scope, time / delivery and cost—sometimes referred to as a project management triangle or "triple constraints." CM is compatible with all project delivery systems, including design-bid-build, design-build, CM At-Risk and Public Private Partnerships. Professional construction managers may be hired for large to jumbo-scale, high budget undertakings (commercial real estate, transportation infrastructure, industrial facilities, and military infrastructure), called capital projects. The role of a contractor Contractors are assigned to a construction project during the design for a constructibility review or once the design has been completed by a licensed architect or a licensed civil engineer. This is done by g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Civil Engineering
Civil engineering is a professional engineering discipline that deals with the design, construction, and maintenance of the physical and naturally built environment, including public works such as roads, bridges, canals, dams, airports, sewage systems, pipelines, structural components of buildings, and railways. Civil engineering is traditionally broken into a number of sub-disciplines. It is considered the second-oldest engineering discipline after military engineering, and it is defined to distinguish non-military engineering from military engineering. Civil engineering can take place in the public sector from municipal public works departments through to federal government agencies, and in the private sector from locally based firms to global Fortune 500 companies. History Civil engineering as a discipline Civil engineering is the application of physical and scientific principles for solving the problems of society, and its history is intricately linked to advances i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Engineering Economics
''For the application of engineering economics in the practice of civil engineering see Engineering economics (Civil Engineering).'' Engineering economics, previously known as engineering economy, is a subset of economics concerned with the use and "...application of economic principles"Dharmaraj, E.. Engineering Economics. Mumbai, IN: Himalaya Publishing House, 2009. ProQuest ebrary. Web. 9 November 2016. in the analysis of engineering decisions.Morris, W. Thomas. (1960). Engineering economy: the analysis of management decisions. Homewood, Ill.: R. D. Irwin. As a discipline, it is focused on the branch of economics known as microeconomics in that it studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources. Thus, it focuses on the decision making process, its context and environment. It is pragmatic by nature, integrating economic theory with engineering practice. But, it is also a simplified application of microeconomic the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Facilities Engineering
Facilities engineering evolved from "plant engineering" in the early 1990s as U.S. workplaces became more specialized. Practitioners preferred this term because it more accurately reflected the multidisciplinary demands for specialized conditions in a wider variety of indoor environments, not merely manufacturing plants. Today, a facilities engineer typically has hands-on responsibility for the employer's Electrical engineering, maintenance, environmental, health, safety, energy, controls/instrumentation, civil engineering, and HVAC needs. The need for expertise in these categories varies widely depending on whether the facility is, for example, a single-use site or a multi-use campus; whether it is an office, school, hospital, museum, processing/production plant, etc. History The term Facilities Engineer emerged in the 1990s from the already existing vocation of the Plant Engineer. This evolution occurred in order to match the rapid advancements in technology at the time. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Costs
In production, research, retail, and accounting, a cost is the value of money that has been used up to produce something or deliver a service, and hence is not available for use anymore. In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost. In this case, money is the input that is gone in order to acquire the thing. This acquisition cost may be the sum of the cost of production as incurred by the original producer, and further costs of transaction as incurred by the acquirer over and above the price paid to the producer. Usually, the price also includes a mark-up for profit over the cost of production. More generalized in the field of economics, cost is a metric that is totaling up as a result of a process or as a differential for the result of a decision. Hence cost is the metric used in the standard modeling paradigm applied to economic processes. Costs (pl.) are often further described based on th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Management Techniques
A project is any undertaking, carried out individually or collaboratively and possibly involving research or design, that is carefully planned to achieve a particular goal. An alternative view sees a project managerially as a sequence of events: a "set of interrelated tasks to be executed over a fixed period and within certain cost and other limitations". A project may be a temporary (rather than a permanent) social system ( work system), possibly staffed by teams (within or across organizations) to accomplish particular tasks under time constraints. A project may form a part of wider programme management or function as an ''ad hoc'' system. Note that open-source software "projects" or artists' musical "projects" (for example) may lack defined team-membership, precise planning and/or time-limited durations. Overview The word ''project'' comes from the Latin word ''projectum'' from the Latin verb ''proicere'', "before an action," which in turn comes from ''pro-'', which ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
