• 국제학술발표논문집
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• The 3th International Conference on Construction Engineering and Project Management
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• pp.375-380
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• 2009

Gas & Oil plant construction projects are increasing recently all over oil-producing countries. An EPC (Engineering, Procurement and Construction) company, which participates in the plant projects, should possess pertinent engineering licenses and EPC management skills to create high added-value. Nonetheless, there exist various risks involved in the EPC life cycle process due to such characteristics of construction projects as long duration of construction time and complicated processes along with the procured goods or services subjected to various logistics. The objective of this paper is to analyze the overall EPC life cycle for proper process and to examine various information and document. Additionally, the principal data for the analysis of the EPC process are derived from personal interviews with experts and specialty contractors of the plant projects. The results of this study would be widely used as a guide for efficient and effective management of overseas gas plant projects.

• 산업경영시스템학회지
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• 제39권4호
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• pp.72-80
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• 2016

The market size of plant projects in overseas is so large that domestic EPC project contractors are actively seeking the overseas projects and then trying to meet completion plans since successful fulfillment of these projects can provide great opportunities for them to expand into new foreign markets. International EPC projects involve all of the uncertainties common to domestic projects as well as uncertainties specific to foreign projects including marine transportation, customs, regulations, nationality, culture and so on. When overseas project gets off-schedule, the resulting uncertainty may trigger unexpected exceptions and then critical effects to the project performance. It usually require much more time and costs to encounter these exceptions in foreign sites compared to domestic project sites. Therefore, an exception handling approach is required to manage exceptions effectively for successful project progress in foreign project sites. In this research, we proposed a methodology for prediction and evaluation of exceptions caused by risks in international EPC projects based on sensitivity analysis and Bayesian Networks. First, we identified project schedule risks and related exceptions, which may meet during the fulfillment of foreign EPC projects that is performed in a sequence of engineering, procurement, preparatory manufacture, foreign shipping, construction, inspection and modification activities, and affect project performance, using literature review and expert interviews. The impact of exceptions to the schedule delay were also identified. Second, we proposed a methodology to predict the occurrence of exceptions caused by project risks and evaluate them. Using sensitivity analysis, we can identify activities that critically affect schedule delay and need to focus by priority. Then, we use Bayesian Networks to predict and evaluate exceptions. Third, we applied the proposed methodology to an international EPC project example to validate the proposed approach. Finally, we concluded the research with the further research topics. We expect that the proposed approach can be extended to apply in exception management in project management.

• 한국건설관리학회논문집
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• 제21권3호
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• pp.76-84
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• 2020

플랜트 산업의 대형화, 복잡화 추세에 따라 플랜트 프로젝트의 수행효율을 극대화하기 위해 모듈러 플랜트의 적용비율이 높아지고 있다. 모듈러 프로젝트의 성공적인 수행을 위해서는 사업수행 전 단계에 걸친 사업수행 전략 수립 및 이행이 필수적이다. 그러나 국내 건설업체는 플랜트 사업관리기술의 정립이나 적용이 미비한 실정으로 특히 사업관리 기술의 핵심요소로써 원가와 공정의 통합관리 방법을 정립하고 체계화 하는 것이 필수적이다. 본 연구는 모듈러 플랜트 프로젝트의 원가와 공정을 통합관리하기 위한 방법론 및 지침서 개발을 목적으로 수행되었다. 모듈러 공법의 일반적인 사항, 원가·공정관리의 업무절차에 대한 이론적 고찰을 토대로 원가관리 방법론, 공정관리 방법론을 개발하고 원가·공정을 모듈단위로 통합관리 할 수 있는 방법론과 지침서를 개발하였다. 모듈러 플랜트 프로젝트에 특화된 원가·공정 통합관리 방법론 및 지침서의 적용을 통해 프로젝트 관리의 효율성을 높일 수 있을 것으로 판단된다.

• 국제학술발표논문집
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• The 5th International Conference on Construction Engineering and Project Management
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• pp.145-150
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• 2013

As a recent global trend, the majority of mega-size plant projects are delivered through EPC (Engineering, Procurement and Construction) contracts, where a single contract is awarded for engineering, procurement, and construction. Under this contracting mechanism, it is challenging for contractors to carry out the projects under traditional project management processes used in design-bid-build projects. A new EPC Plant, the POSCO Special Steel Plant in Changwon, was built successfully at the beginning of 2012 and it is currently in full-scale production. The project has encountered a number of major difficulties however, with some technical and managerial issues through its development process. As summarized in this paper, the authors (as project participants with the contractor) investigated it as a post construction analysis and recorded the Lessons-learned for future project management improvement.

• 플랜트 저널
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• 제7권3호
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• pp.48-64
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• 2011

In this work, risks in EPC project for overseas power plant projects are analyzed and risk management methods are suggested to reduce cost and to shorten time. 79% of risks occurred in the engineering phase for S project located in South-East Asia. The impact scales of risks on major project objectives which are cost, time, scope, and quality are analyzed as 3.5, 3.8, 2.7, and 3.7, respectively. The level of impact scales is very similar to each other except the impact scale of scope. The risk management methods suggested in this study have to be applied at the appropriate time to manage risks effectively. After that, risks are managed continuously by monitoring.

• 한국건설관리학회논문집
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• 제23권6호
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• pp.101-110
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• 2022

최근 세계 건설시장은 2025년까지 연 평균 4.8%씩 성장할 것으로 예상하고 있으며, 이에 따른 해외건설 리스크도 증가할 것으로 전망하고 있다. 특히, 국내 건설업체들은 EPC(Engineering, Procurement, Construction)/Turnkey 사업에 집중적으로 참여하였지만, 계약적 리스크에 대응하지 못한 결과, 2013년부터 수조원대의 해외사업 손실을 입은 경험이 있다. 그럼에도 불구하고, 지금까지 EPC/Turnkey의 계약적 핵심 리스크 세부조항 도출에 대한 연구는 많지 않았다. 따라서 본 연구에서는 국제컨설팅엔지니어링연맹(FIDIC)에서 발행한 2017년 Silver Book 계약조건을 대상으로 핵심 리스크 세부조항을 연구하였다. 이를 위해서 국제건설계약 경험이 10년 이상인 30인의 전문가를 패널로 구성하여 FIDIC Silver Book 21개 조항 170개 세부조항을 델파이 설문조사를 실시하여 62개의 주요 리스크 세부조항을 도출하였다. 또한, 최종적으로 FMEA(Failure Mode and Effect Analysis)기법을 활용하여 RPN(Risk Priority Number)을 산정하였으며, Critical Risk 범위에 속하는 25개의 핵심 리스크 세부조항을 도출하였다. 본 연구 결과를 통하여 실무관점에서는 해외건설사업에서 입찰 및 계약체결 단계에서 주의 깊게 검토해야 할 계약조항들에 대해 참조할 수 있게 해주고, 학문관점에서는 해외건설 EPC/Turnkey 사업에서 사용되는 계약분야에 대해 어떤 방식으로 연구해야 할지의 방향성과 기초적 지식을 제공하고 있다.

• 무역상무연구
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• 제18권
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• pp.189-218
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• 2002

The EPC/Turnkey Contract goes to the extreme in allocating risks to the contractor and depending on the types of project, this may be regarded as unacceptable. It has also gone to the extreme in the extent to which the contractor is responsible for the specification and design of the Works. The employer is not responsible for correctness of any information provided by him nor for correctness of any specification or other matter included in the Employer's Requirements, except the definition of the intended purpose and criteria for testing and performance. With such conditions it is surprising that the employer is entitled to interfere in the contractors performance to an extent that is close to what is norm for a construction contract with employer design and with normal risk allocation. The combination of risk allocation and inappropriate administrative provisions makes the EPC/Turnkey Contract a document that will meet severe resistance from contractors. It is also likely that employers will see the risks and difficulties from their own perspective. It is a fiction that the EPC/Turnkey Contract will give the employer a contact with a certainty of final price and completion date. It is not a fiction that the EPC/Turnkey Contract carries many seeds for disputes between the parties. The Orange Book has become an accepted document even if it clearly contains some weaknesses. Some of these have been corrected in the Plant Contract. In my opinion FIDIC should let users become more familiar with the Plant Contract as a follow up to the Orange Book.

• 국제학술발표논문집
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• The 6th International Conference on Construction Engineering and Project Management
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• pp.718-719
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• 2015

As a recent global trend, the majority of plant projects are delivered through EPC or EPC-turnkey contracts, where a contractor's liability is more complicated because of the mega size scale and financing method. Previous researches have been lacking a practical usability for project members for liabilities of contracts. Those were focused on solving the claims or schedule calculation issues only. The objective of the present study was to develop a validation process for LDs (liquidated damages) in contractor's liabilities with various case studies and expert judgments. As summarized in this paper, the processes and tools were developed with project life cycle process. The project preparation phase includes 3 step check lists to determine the Go or No-go for projects. In progress phase, contractors should focus on the response strategies for claims with liabilities. The study concludes that those developed processes and tools will help to manage risk of LDs for the contractors in the overseas projects.

• 국제학술발표논문집
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• The 6th International Conference on Construction Engineering and Project Management
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• pp.629-630
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• 2015

'Sabine Pass Liquefaction Project (SPL Project)', a case study in this report, is the first construction project of a U.S. liquefaction facility for shale gas export overseas. This study analyzes the SPL Project to give understanding and a guideline to Korean EPC companies by benchmarking about effective risk-sharing strategies on EPC contracts. This study consists of three parts. The first summarizes the liquefaction process adopted on the SPL Project, named the 'ConocoPhillips Optimized Cascade Process', and compares it with other competitive liquefaction processes. The second introduces the unique features of the SPL EPC contract by comparing it with two other EPC forms of contracts: a FIDIC Silver Book for onshore plant projects and a contract of an offshore oil production (FPSO) project. The third focuses on the complexity of project financing (PF), especially lenders control and impact on the EPC contract such as covenant provisions to constrain variations and changes on the EPC Contract. From these conclusions, it is anticipated that this case study can provide a guideline for successful performance of Korean EPC contractors overseas.

• 대한안전경영과학회지
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• 제24권2호
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• pp.67-76
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• 2022

Power generation construction projects involving large amounts of capital can affect the survival of a company along with huge economic losses in the event of a business failure. In general, private companies are organizations with challenging risk taking tendencies while public companies have a risk averse tendency to avoid risk, so these differences in organizational tendencies make it difficult to respond to risk. In particular, public companies are more likely to fail than private companies because they choose the contradiction of risk picking to enter overseas markets with high uncertainty despite their tendency to risk averse due to the nature of the organization. Therefore, these organizations need risk management techniques that reflect a risk-averse strategy. Accordingly, this paper analyzes the risk management research papers of the existing overseas development EPC business in order to find the risk management techniques related to the organizational tendencies of public companies and proposes "establishing a performance audit system for risk management of the organizational tendencies of public companies" as a way to extract the risk factors through the examples of overseas development projects of public companies and to manage the organizational tendencies of public companies that affect them.