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EPCM is a services-only contract, under which the contractor performs engineering, procurement and construction management services. In an EPCM arrangement, the client selects a contractor who provides management services for the whole project on behalf of the client.
EPCI stands for Engineering, Procurement, Construction and Installation, a common form of contracting arrangement within offshore construction. The acronym EPIC for Engineering, Procurement, Installation & Commissioning is also used. Under an EPCI contract, the contractor will design the structure (s), procure the necessary materials, undertake ...
Front-End Engineering (FEE), or Front-End Engineering Design (FEED), is an engineering design approach used to control project expenses and thoroughly plan a project before a fix bid quote is submitted. [1] It may also be referred to as Pre-project planning (PPP), front-end loading (FEL), feasibility analysis, or early project planning.
Digital Postmarks. A Digital Postmark (DPM) is a technology that applies a trusted time stamp issued by a postal operator to an electronic document, validates electronic signatures, and stores and archives all non-repudiation data needed to support a potential court challenge. It guarantees the certainty of date and time of the postmarking.
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Front-end loading (FEL), also referred to as Front End Planning (FEP), pre-project planning (PPP), feasibility analysis, conceptual planning, programming/schematic design and early project planning, is the process for conceptual development of projects in processing industries such as upstream oil and gas, petrochemical, natural gas refining, extractive metallurgy, waste-to-energy ...
Open-book contract. In an open-book contract, the buyer and seller of work/services agree on (1) which costs are remunerable and (2) the margin that the supplier can add to these costs. The project is then invoiced to the customer based on the actual costs incurred plus the agreed margin. It is essentially the same as what is known (especially ...