• Proceedings of the Korean Institute of Building Construction Conference
• /
• 2010.05b
• /
• pp.85-89
• /
• 2010

The propose of this research is derive project management factors and evaluate its decision weight in LNG plant EPC phases. In order to research, we studied the demestic and international research trend and analysed expert opinions. Initially we derived nine project management factors in each phase of EPC. Elicited factors in research are project management, design management, cost management, time management, contract and craim management, safety management, environment management, and risk management. Then, we evaluated the weight of project management factors with expert survey method and elicitated. Finally, The remarkable points in the result are that key management factors of EPC project are project management and risk management.

• Proceedings of the Korean Institute of Building Construction Conference
• /
• 2010.05b
• /
• pp.103-108
• /
• 2010

The purpose of this study is to analyze of the risk factors for oversea plants construction projects. For this study, risk factors data from related literature review, research organization and construction company was researched and classified under each EPC phases. In addition, a questionnaire survey by plant experts was conducted for analysis of risk weight and costs and time impact on each EPC phases. The results of this study are as follows: First, a detail design errors(engineering phase), a equipment procurement plan(procurement phase), and exchange rate fluctuations(construction phase) were analyzed the highest weight factors. Second, a financing plan(engineering phase), quantity take-off bill(procurement phase), and exchange rate fluctuations(construction phase) were analyzed the highest cost impact factors. Third, detail design errors(engineering phase), a equipment procurement plan(procurement phase), and schedule management errors(construction phase) were analyzed the highest time impact factors.

• International conference on construction engineering and project management
• /
• 2022.06a
• /
• pp.823-830
• /
• 2022

The risk of project execution increases due to the enlargement and complexity of Engineering, Procurement, and Construction (EPC) plant projects. In the fourth industrial revolution era, there is an increasing need to utilize a large amount of data generated during project execution. The design is a key element for the success of the EPC plant project. Although the design cost is about 5% of the total EPC project cost, it is a critical process that affects the entire subsequent process, such as construction, installation, and operation & maintenance (O&M). This study aims to develop a system using machine-learning (ML) techniques to predict risks and support decision-making based on big data generated in an EPC project's design and construction stages. As a result, three main modules were developed: (M1) the design cost estimation module, (M2) the design error check module, and (M3) the change order forecasting module. M1 estimated design cost based on project data such as contract amount, construction period, total design cost, and man-hour (M/H). M2 and M3 are applications for predicting the severity of schedule delay and cost over-run due to design errors and change orders through unstructured text data extracted from engineering documents. A validation test was performed through a case study to verify the model applied to each module. It is expected to improve the risk response capability of EPC contractors in the design and construction stage through this study.

• Plant Journal
• /
• v.2 no.3
• /
• pp.23-33
• /
• 2006

• Plant Journal
• /
• v.6 no.2
• /
• pp.12-17
• /
• 2010

• Plant Journal
• /
• v.5 no.3
• /
• pp.59-65
• /
• 2009

In the plant EPC project, the procurement work can be considered as the most important part that affects the success or failure of project as it has the closest mutual influence in every execution process of the project. Procurement takes up generally 60% ~ 70% of the entire project budget and the current trend of plant EPC project becoming larger in scale and a variety of process technology being applied. So, it is needed to identify the risks that are expected to occur according to the stages of procurement work, namely, proposal stage, manufacturer selection and purchasing agreement stage, expediting the process management of manufacturer stage, inspection stage and logistics & transportation stage. The management of observation and control of the risks should be performed with the response techniques which are 'avoid',' transfer'and' mitigate'.

• Korean Journal of Construction Engineering and Management
• /
• v.25 no.2
• /
• pp.11-22
• /
• 2024

Power plant engineering industry obtains EPC plan project and delivers results about electricity, measurement, machinery, and piping and so on. Its works are taken by projects. Although power plant engineering composes 2~5% of whole EPC project cost, it's one of the fundamentals because it affects process after planning step a lot. However, domestic power plant engineering companies' project performance ability is insufficient and there's a need for systematic performance. Thus, this study defined related factors of successful performance and analyzed the priority among them through analytical hierarchy process. All respondents recognized experience, knowledge, and communication as important factors. Administrators considered knowledge, experience, and communication. But hands-on workers considered experience, knowledge, human resources. Those who have experience in oversea project considered process, experience, human resources. However those who don't have experience in oversea project considered knowledge, experience, and communication. Recognition of important factors varies by the position and work experience of members.

• Plant Journal
• /
• v.7 no.2
• /
• pp.39-43
• /
• 2011

Due to the recent uncertainty of market situations such as the escalation of petroleum prices, increased production capacities of plants, limitations of the available EPC (Engineering, Procurement, Construction) contractors, and the increase of raw material prices, EPC contractors have had a tendency to include a higher reserve contingency in the lump-sum turnkey contract price. In order to overcome the changes in the market, the plant project construction industry has started to apply the converted lump-sum turnkey contract in plant construction market. This study was focused to find the associated risks and to analyse the identified risks on recent trend of application of the new contract type, which is the converted lump-sum turnkey contract. It was recognized from the analysis that quality and cost have more high priority risks than other project objectives. This paper also suggests the mitigation plan for identified risks to achieve project objectives appropriate to the converted lump-sum turnkey project from the viewpoint of an EPC contractor keeping transparency with owner.

• Proceedings of the Korea Committee for Ocean Resources and Engineering Conference
• /
• 2006.11a
• /
• pp.269-272
• /
• 2006

The use of packaged skid in oil and gas plant has increased dramatically over the decades, replacing loose supply equipment. Most equipment is installed on structural skid in manufacturer's shop. As Oil and Gas Plants are constructed at inaccessible area, the demands of packaged skids are increased. The packaged skid have advantages comparing to loose supply equipment in inaccessible area. The packaged skid is small complex plant consists of process, mechanical, piping, instrument, electrical and structural steel. This paper examines advantages and problems of packaged skid, based on previous experience. EPC company consider key factors such as manufacturing period, construction periods, equipment quality and costs.

• Korean Journal of Construction Engineering and Management
• /
• v.9 no.3
• /
• pp.146-152
• /
• 2008

Since the year of mid 2000, the EPC industry in Korea has the highest amount of orders received due to tremendous need form middle east asia region. However, the quality requirement from the owner is getting critical, which lead to the more competitive engineering capacity equipped. In order to do so, the development of objective and quantitative evaluation model of engineering process is essential. In order to develop the engineering checklist model for case-based evaluation of EPC project, first, the general description of worldwide EPC industry as well as the literature review of prior study have been performed. Then, the survey interview with experts in the engineering area of EPC project was performed In order to Identify the engineering work tasks and the critical check items, which should be checked during engineering process. Based on these checklist, the weights of check items as well as engineering work tasks also have been defined. The developed checklist model evaluated the two EPC project cases of S company in Thailand in order to explore its applicability. From the analysis of evaluation results, it is expected that the continuous implementation of evaluation based on checklist model can help the EPC practitioner check the critical items in engineering process more efficiently and take an appropriate action for better engineering performance, which finally can lead to the Korea EPC industry being more competitive.