10:20 - 10:45
Wednesday, 18 September 2019
S1.3 RESERVE: Adaptability of an EPC Organization in Times of Uncertainty
As the demand of LNG keeps on increasing in the Asian, and the European markets so does the need to build effective and efficient facilities to keep up with that demand.
Clients and EPC organizations are facing challenges to keep up with the ever-changing scenarios of globalization. Evaluating impacts to the society and environment has always been at the top of the list and it is still trending to drive the behaviors of whether these global demands will be met. It calls for a new normal to navigate through the uncertainties that exist. With the introduction of IOT, AI, and newer technologies how can we build facilities that are safer while providing positive impact to the communities around us. Time has come when we all need to shed our inhibitions and collaborate at a higher level for efficient engineering and construction.
We need to think about better contracting models within Client and EPC organizations which stimulates risk sharing. Now it has ever become more important to understand the impacts of schedule. With this increase in demand also comes the shortage of talent pool due to the baby boomers leaving the work force. How do we train our Gen X and the millennials to build these mega projects? Collaboration between Governmental Authorities, Clients, Communities, and EPC Organizations is paramount. This paper will dive into the details and suggest a few ways that organizations and teams need to adapt in these times of uncertainty. We need to be prepared so that organizations do not become extinct but in turn survives and leaves a legacy behind.