Profit Taking in Engineering, Procurement and Construction (EPC) Projects
Keywords:
EPC Projects, Notional Profit, Earned Profit, Work-in-progressAbstract
Profit Taking in Engineering, Procurement and Construction (EPC) Projects is reported. Five formula for calculating "Profit Taken" have been identified and demonstrated by use of a hypothetical EPC Contract no.015. The interface of Notional profit, Earned profit, Profit suspense and Work-inprogress (WIP) have been demonstrated. "Earned profit" taking can now be done within due limits of certainty without derailing the project.
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References
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