Notice of RetractionAnalysis and solution of procurement risk in international EPC projects

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

In international EPC projects, procurement risk management has an important influence on the completion time and cost management of the whole project. On the basis of the experience in the constructed international engineering projects, this paper analyzed the major risks during the whole lifecycle of the procurement of international EPC project (including contract forming stage and project execution stage), including design risk, material price rising risk, supplier risk, laws and regulations risk, exchange deal risk and logistics risk. Solutions against each risk were put forward to provide helpful reference for the procurement management of future EPC projects.