Since 2014, the drop in oil and commodities prices has affected the energy and industrial sectors, which has led to significant cuts to investment in capital projects. The consequences of this rapid and unforeseen situation for EPC contractors is self-evident and needs businesses to adapt quickly in order to maintain profitability and in some cases even their viability. This crisis is nevertheless, in my opinion, a great opportunity for the field of Cost Control in particular to rectify bad practices and evolve its potential contribution to the delivery of profitable projects in the context of a more than ever demanding market situation which is not showing signs of improving in the near future.
I address these and other issues in this paper which was recently published in Economic Plant
Andre Martins – Managing Consultant, Kingsfield Consulting