The EPCM Delivery Model: A Contractor’s Perspective
Ritankar Sahu, Corporate Counsel - Asia, Jacobs Engineering Group, Singapore
Construction has always been a risky and disputes-prone business, but today’s commercially volatile market has kicked up a whole range of additional risks, creating ever more cases where time and costs go beyond what was initially agreed. Construction projects operate their own version of opposites: the Contractor and the Employer. While both sides tend to benefit from successful completion, each may have potentially conflicting financial objectives: the Contractor will seek to maximize profit while the Employer will wish to minimize costs. Both parties would do well if they recognise this at a pre-contractual stage and take measures to create a commercially palatable yet balanced contract framework prior to commencement of a project. Every eventuality is unlikely to be anticipated at project start and usually some provisions may be inadequate.
Read full paper
Subscribe to the IICJ