Adaptive Estimation and Management of Cost Contingencies in EPC Projects

Abstract

AbstractGeneral contractors of engineering, procurement, and construction (EPC) projects face diverse, interdependent risks in highly dynamic environments; therefore, reliable estimation and management of project cost contingencies are critical for ...Practical ApplicationsThis study offers practical value for EPC contractors through an integrated approach to cost contingency estimation and management that addresses the complexities of EPC project settings, including dynamic conditions, interdependent ...