Taking On EPCIC Contracts Management
PetroKnowledge recently ran a session of their “EPCIC Contracts Management” seminar in Muscat, Oman.
Delegates attending the training seminar enjoyed 5 days of interesting and practical insight into the effective management of EPCIC contracts and more.
EPCIC contracts are unique – the contracts provide single point responsibility and risk for handing over projects within agreed costs, schedule and performance parameters. Despite the obvious merit to using EPCIC Contracts, they do have inherent risks, and thus mastering their use and management is key to providing your organisation with an effective project delivery route.
The course instructor – Helen, a barrister of international experience – has an informal yet professional style which both educates and challenges, encouraging participants to draw on their own experiences, as well as learn from others and arrive at the best way of dealing with the risks faced by their own organisations.
During the course, our Senior Consultant made extensive use of case studies and real-life examples, from which participants were able to apply their newly learnt concepts and ideas to their own situations.
Key areas that were discussed included:
- Minimising risk exposure through different contracting strategies
- Reasons for using EPCIC, and the risks of doing so.
- Managing the procurement process, from tender to award
- Using the contract to manage delays
- De-mystifying the use of indemnities and insurance
- Managing external events under your contracts
- Dealing with design and technology risk
- Controlling risks associated with pricing and payment
- Passing ownership/title and risk at the appropriate time for best protection
- Discussing options when problems and disputes arise
Dealing with all these issues also requires skills and confidence in negotiation and presentation, and because of this, the course also provided delegates practical training in negotiation techniques and gave them several negotiation exercises to undergo.
Whilst on a specialist training subject, we welcomed a range of delegates to the course, from engineers, finance and cost managers, to projects and contracts managers bringing their own knowledge, skills and experience to share and compare, across the oil and gas and utility industries.
To know more about the training course and to view related training seminars and workshops, you may click on the following links:
For more information on PetroKnowledge training courses, please visit our website (www.petroknowledge.com) or contact us at T: 00971 2 557 7389 / E: [email protected]
