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- Type of Document: M.Sc. Thesis
- Language: Farsi
- Document No: 47422 (09)
- University: Sharif University of Technology
- Department: Civil Engineering
- Advisor(s): Mortaheb, Mohammad Mehdi
- Abstract:
- Engineering, Procurement and Construction (EPC) contracts commonly used in the construction of oil and gas production facilities in Iran. These projects are subjected to many uncertainties. Because in these projects contractor is responsible for most of the activities related to the Engineering, Construction and Procurement, EPC contractors often assume most of project risks. Therefore, project risk management is very essential for achieving project goals. Several studies have focused on the identification and analysis of EPC project risks. However, they fail to identify appropriate risk management strategies. The objective of this study is to identify fair and efficient risk allocation and mitigation strategies that can be utilized in EPC oil and gas projects. In this research, we focus mostly on a Fair risk allocation and efficient risk mitigation strategies which are the most important phases of risk management. In this research, Comprehensive literature review is conducted to identify the risks in these EPC projects. Utilizing literature review and experts’ opinion, the identified risks are analyzed and categorized. The outcome of this analysis is the identification of a novel category of EPC project risks. This category, called "recurring risks, includes the risks that are inherent in the EPC projects as well as the risks stemmed from external factors. These risks are classified in eight groups. For each risk group, appropriate risk management strategies were identified and ranked using experts’ opinion. This study contributes to the body of knowledge by developing a practical risk response framework for each of eight recurring risk groups that can be utilized in oil and gas EPC projects. Results show that sudden inflation is the most important recurring risks in EPC contracts of Iran and may be very well managed by the client through contractual adjustment. Another important risk is inadequate contractual provisions and insufficient design specifications which can be well managed by using the opinions of consultant and contractor during the preparing of contract documents. It is recommended that tender should be held after preparing the FEED by the client
- Keywords:
- Engineering/Procurement/Construction (EPC)Projects ; Design and Construction ; Risk Responsibility ; Recurring Risks ; Risk Allocation
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