Exploring the Expanding Role of EPC Consulting in the Global Market

 

 EPC Consulting 

The Evolution 

Engineering, procurement and construction (EPC) consulting was traditionally focused on supporting EPC contractors during the project delivery phase. However, over the past decade, the role of it has significantly expanded across the project lifecycle. With growing complexity in projects, many owners are now relying on EPC consultants much earlier during the planning, design and engineering stages.

Early involvement allows EPC consultants to provide valuable owner advisory services right from conceptualization. They can assess project feasibility, review designs for constructability, and identify risks proactively. This mitigates challenges during construction and helps deliver projects on-schedule and on-budget. As owners look to de-risk projects, the advisory capabilities of EPC consultants are in high demand.

Changing Industry Trends Accelerate Transformation

The transformation of EPC Consulting has been accelerated by various industry trends. Owners are under increasing pressure to reduce capital expenditures while delivering more complex projects. This has pushed many to pursue integrated delivery models like alliance contracting which requires highly collaborative planning. EPC consultants play a vital role in driving integration across the project lifecycle through their expertise in engineering, procurement and construction.

Rising globalization in the industry has also contributed to the expansion. As EPC projects move into new geographies and cultures, owners need advisors well-versed in the local operating environments to navigate challenges associated with regulatory compliance, stakeholder management, supply chain dynamics and more. EPC consultants have leveraged their international experience and local networks to provide such specialized advisory support.

Additionally, the focus on sustainability and digitization is blurring traditional boundaries. EPC consultants now assist owners in areas like developing low-carbon strategies, implementing building information modelling (BIM), and enabling smart infrastructure through digital twins. Their multi-disciplinary teams ensure a holistic approach to addressing these emerging industry imperatives.

A Wide Range of Advisory Services

To capitalize on the new opportunities, leading EPC consulting firms have significantly diversified their service offerings. In addition to traditional project management and cost engineering services during construction, some of the key advisory services now encompass:

- Project Validation: Independent validation of project concepts, design development, construction planning, schedules and cost estimates. This de-risks owner decisions from the onset.

- Project Delivery Strategy: Advisory on appropriate contracting and procurement strategies based on project complexity, risk allocation needs, and owner objectives for budgets and schedule.

- Risk Management: Quantitative and qualitative risk assessments to identify threats, develop mitigation plans, and structure contracts to transfer risks appropriately.

- Project Management: Owner's team augmentation and oversight services from early works through commissioning and handover for integrated project delivery.

- Sustainability Advisory: Strategy development and identification of renewable and energy efficiency solutions to lower environmental impact and life cycle costs.

- Digital Advisory: Consultation on applications of BIM, digital twins, drones, robotics, AI and other Industry 4.0 technologies to enhance design, construction and operations.

- Dispute Resolution: Expert advice and representation for claims, negotiations, mediations and arbitrations involving delays, defects, variations and other contractual issues.

Global Presence and Cross-Industry Reach

Over the years, leading EPC consulting brands have established global footprints by setting up regional hubs and leveraging strategic partnerships. For instance, major firms like Jacobs, Linxon Group, KBR, AECOM now operate across 50+ countries with hundreds of consultants based in different geographies.

Their diverse talent pools have also expanded domain expertise into multiple sectors beyond traditional oil & gas, power and infrastructure areas. Many consultants today support owners and contractors in industries like mining & metals, chemicals, pharmaceuticals, data centers, and commercial property development.

The Future of EPC Consulting

As the engineering and construction landscape continually evolves amid energy transitions, digital disruption and other macro shifts, EPC consulting is well-positioned for continued growth and transformation. Consultants will play an even stronger integrated role across project delivery networks. New service lines around decarbonization, smart infrastructure, data analytics, and modularization are likely to emerge.

Partnerships between consultants and technology providers will also gain prominence to leverage cutting-edge innovations like digital twins, AI, automation and robotics. This will redefine project planning and management approaches. With their multi-disciplinary advisory capabilities and global operating models, leading EPC consultancies are well-equipped to navigate industry changes and expand their strategic importance for project owners worldwide.

 

Get more insights on EPC Consulting

About Author
Alice Mutum, is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

(LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )