Contract Management

The Earned Performance for Engineering and Procurement Deliverables on EPC and LSTK Contracts

One of the key requirements on Engineering-Procurement-Construction (EPC) and Lump Sum Turnkey (LTSK) contracts is the formal documentation, monitoring, evaluation, and reporting of the earned performance against what was planned for the scope of work for engineering and procurement deliverables. For engineering scope of work, those would usually include engineering Read more…

By PMWeb, ago

Using Project Management Information System (PMIS) for a Real-Time Single Version of the Truth Cost Value Reconciliation (CVR) Report

Cost Value Reconciliations (CVR) are carried out in order to monitor, evaluate and report expenditures against budgets to ensure that construction projects are completed within budget. The Cost Value Reconciliation (CVR) is a measurement of the actual costs incurred on a project for which they are compared against the value Read more…

By PMWeb, ago
PMWeb 7 Commercial Bid Analysis

The Great Benefits of e-Procurement in Engineering and Construction Projects During the COVID-19 Pandemic Era and Beyond

One of the common practices in capital projects is outsourcing part of the project’s scope of work to third-party entities who could be more qualified and efficient in delivering the outsourced scope of work. Actually, outsourcing is one of risk response strategy actions to transfer project risks. Project owners can Read more…

By PMWeb, ago