Study on Cost Management of the General Contractor in EPC Project

As a new mode of project implementation, EPC mode has been supported by more and more owners and contractors nowadays. Because the competition of the construction market is becoming fiercer and fiercer in recent years, the general contractor should pay more attention to cost management in order to improve their economic effectiveness. The author introduces the conception and characteristics of EPC project firstly, and then analyzes the characteristics of cost management in each stage of an EPC project. On the basis of these analyses, this paper gives some specific advice for cost management of the general contractor through the three stages: engineering, procurement and construction, and we hope that all of these can provide some assistance for the general contractors.