EPC Projects Risk Management

Risk analysis and management is a key project management practice that provides the minimum number of negative scenarios during project implementation. Using an optimized risk management process allows you to predict the occurrence of uncertainties in projects and minimize the occurrence or negative impact of these uncertainties. This increases the likelihood of successful completion of the project and reduces the negative consequences of project risks. Risk management is an important area that accompanies the implementation of EPC projects (Engineering, Procurement, Construction, turnkey project). Today, in the face of growing investment in investment projects, no large project can do without attracting contractors who carry out a substantial amount of work in such areas as design, construction and commissioning, and an increasing number of fuel and energy companies have the advantage of cooperation in the EPC - contract or project.