A Study On The Extent Of Optimization Of The Procurement Cycle Time With The Help Of Pre-Approved Vendor Drawings In The Project And Engineering Management Of Epc Projects

Abstract

EPC means Engineering, Procurement and Construction and is a form of project execution methodology in the Engineering and construction industry. Every EPC project work with an estimated fixed time schedule and an estimated cost. The project management activities have their own cycle time, which affect the project execution time to a greater extent. By optimizing the cycle time of these activities, the overall project can be expedited and any possible delays creeping-up can be mitigated. The objective of this paper is to study the procurement cycle time in the conventional method and to study the extent of optimization of the procurement cycle time with the help of pre-approved vendor drawings. The details interpreted from Job completion report / Back-log analysis / progress reports of various EPC projects comprising of the disciplines viz Process, Electrical, Mechanical, Structural and instrumentation and prevailing EPC market standards form basis of this paper.