Theoretical And Applied Research On Investment Control System Of The Owner In EPC Mode

As one of the project contract modes, EPC mode which refers toDesign-Procurement-Construction has been increasingly used in engineering fieldwith its positive contribution to the owners’ project management. Cost overrun occursfrequently in construction management. Most of the present domestic researches oninvestment control are limited to qualitative control measures depending on isolatedproject period. However, as the owners’ investment control is a complex systematicproject and an integration of investments in all project periods, a holistic concept hasbeen raised to build owners’ investment control model. Owners’ investment control inEPC mode refers to that owners should take measures to ensure the actual investmentdoes not exceed the planned to achieve investment benefit under the restraint ofquality and time.Based on traditional investment control methods, theories of dynamic control andoperational research, domestic and overseas experience, the research was unfoldedsystematically on the owners’ investment control system in EPC mode and aninvestment control evaluation system was established with grey theory. The mainworks were summarized as follows:(1) Basic definition and category of the Owner were introduced. Then twotraditional control theories, whole process management and dynamic control, wereanalyzed. Finally, the limits of the existed investment control models were analyzedand the necessity of a dynamic control system model was explained in this thesis.(2) According to basing on basic construction procedures, EPC projects weredivided into preliminary stage, prepare stage(including bidding and contract signing),project implementation stage(including construction and final acceptance) andoperation and maintenance stage. Then investment control emphasis, methods andinfluencing factors of each stage were separately analyzed in a view of whole processmanagement.(3) Definition, goals and control procedures of owners’ control system in EPCmode were introduced. Then control system model in three levels were separatelydeveloped by taking the influencing factors and the restraint of quality and time intoconsideration. The factors included competitive mechanism, time compression, fund sappreciation, engineering alteration, risk and contract award/punishment.(4) According to the results of investment control, an evaluation system of investment control was developed with the combination of the theory of grey system.And then a case was studied in detail to demonstrate the operation of the evaluationsystem.