EPCIC Contract Management in Offshore & Marine

Introduction

The most common type of construction contract is an EPCIC (Engineering, Procurement, Construction, and Installation & Commissioning) contract. EPCIC is the preferred contract module, particularly for complex projects. Understanding the intricacies of EPCIC contracts will be a valuable asset in driving effective contracting strategies to reduce delays, cost overruns, and liability issues.

This EPCIC Contracts Management in Offshore & Marine training course is specifically designed to address the key issues as they relate to all parties and stakeholders involved in the contract's execution. And the best methods for allocating and managing their risk and liabilities. The main contractor bears the risks for the project under an EPCIC model, and they must minimize these risks through effective contracting strategies.

This EPCIC Contracts Management in Offshore & Marine training course is specifically designed to provide participants with a well-tested and practical guide on:

• Putting EPCIC in the context of the different models of EPC Contracts

• The inherent risk, liabilities, and benefits of employing various contracting strategies

• The challenges of EPCIC lump sum contracts and the ways to manage cost over-runs

• Structuring the contract to address the issues of the several parties to the contract to ensure a positive project outcome. Pros and Cons of the split EPCIC contract form

• Insights into the current issues affecting EPCIC contracts like pollution, HSE and local content; managing contractor concerns

Course Objectives of EPCIC Contract Management in Offshore & Marine

At the end of this training course, participants will be able to:

• Understand the current global, local and financial environment for EPCIC contracts and assess operational, commercial, legal, and financial risks in EPCIC contracts

• Examine and analyze the difference between EPCIC contracts & EPCM and appreciate the underlying legal principles

• Appreciate the essential element of the different contract stages from pre to post-tender to completion and delivery of project

• Address key issues faced during the project lifecycle and how to tackle these through enforceable contractual clauses

• Avoiding drafting pitfalls and ambiguous contractual terms

Course Methodology of EPCIC Contract Management in Offshore & Marine

This EPCIC Contracts Management in Offshore & Marine training course will employ a number of tried-and-true learning techniques to ensure maximum understanding, comprehension, and retention of the material presented. This includes interactive sessions with role playing, case studies, discussion groups, and scenario building to improve and sharpen delegates' skill sets in planning, negotiating, and managing EPCIC contracts. The goal of the interactive role play is for participants to be able to apply what they learned at the workshop to negotiate a more effective EPCIC contract. This will assist participants in gaining practical insights into risk management and maximizing their rewards.

Organizational Impact of EPCIC Contract Management in Offshore & Marine

The organization will benefit by:

• Providing project management team with a fresh and rational approach to contract management in Offshore and Maritime contracts

• Analyzing and solving contract problems before they cause organization in time and money

• Provide an eye-opener on the importance of clarifying contract ambiguities prior to signing of contracts

• Gives procurement and other project personnel a new insight into negotiating contracts

• Strategizing on risk management techniques that can be used in the contracts to safeguard organization's interests

• Senior management is given options that are available to enable them to negotiate terms and conditions for upstream and downstream contracts

Personal Impact of EPCIC Contract Management in Offshore & Marine

This EPCIC Contracts Management in Offshore & Marine training course teaches the competencies that enable the attendees to: 

• To have a one-stop reference on all aspects of the contracts and for dealing effectively with the problems that may arise

• Obtain detailed guidance on the contract management techniques that will help the reduce claims

• Familiarize themselves with different contracting clauses

• Looks at contract documents required for the creation of an EPCIC contract and other contracts and the importance of specifications, drawings, scope of work

• Deal with Changes to contract terms, and differences in approach between standard contracts and bespoke contracts

• Knowledge of different contracting strategies to meet the organization’s goals