May 2015

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HP Project Management: Build a better bid, or how to achieve a competitive advantage in capital projects

As backlogs and revenues continue to be strong and on an upward path for most global engineering and construction (E&C) firms, competition for the best projects has increased. The energy industry’..

Beck, R., AspenTech

As backlogs and revenues continue to be strong and on an upward path for most global engineering and construction (E&C) firms, competition for the best projects has increased. The energy industry’s turbulence and new sense of urgency have imposed aggressive schedules in the bidding phase. Result: E&C companies are responding with more aggressive bids, which, in turn, create more uncertainty over cost estimates and project scopes. Resource shortages and other factors have played a major role in elevating project costs, and owners have responded by pushing E&C companies to provide lump-sum bids. In addition, owners have compressed the front-end engineering and design (FEED) stage of pr

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