Benefits of the EPC CIM™
Monthly payments: SEC charges for their actual used engineering hours on a monthly basis. This includes managing the project, engineering, procurement, finance, construction, software use, and administrative tasks but excludes third-party costs.
Overhead costs: An agreed fee added to third-party costs. This fee is paid to SEC as profit when paying the third-parties.
Risk and penalties: SEC shares cost overruns if the project exceeds the budget or the project takes longer than expected, with agreed limits set in the contract.
If the project is late, SEC is penalised, and if it's early, SEC gets a bonus.
SEC is also responsible if the project doesn’t meet production or efficiency targets, and penalties are applied. Conversely, SEC gets a bonus if these targets are exceeded.
Risk-linked overhead: An agreed risk-fee added to direct third-party costs, and this amount (Overhead Risk) is paid to SEC if the project meets specific goals, like staying on schedule, within budget, and meeting agreed performance standards.
Cost transparency: The Purchaser will get full transparency of all third-party costs in SEC’s system.
Let’s discuss the details. Get in touch.
Lasse Fröhlich Sales Manager