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Various abbreviations used for this type of contract are LSTK for lump sum turn key, EPIC for engineering, procurement, installation & commissioning and EPCC for engineering, procurement, construction and commissioning. Use of EPIC is common, e.g., by FIDIC and most Persian Gulf countries. Use of LSTK is common in the Kingdom of Saudi Arabia.
The Common Procurement Vocabulary (CPV) has been developed by the European Union to facilitate the processing of invitation to tender published in the Official Journal of the European Union (OJEU) by means of a single classification system to describe the subject matter of public contracts.
Contract management software is produced by many companies, working on a range of scales and offering varying degrees of customizability. Basic functions should include the ability to store contract documents, track changes to contract documents , search documents for a particular criterion, send key date alerts and to report required aspects ...
EPCM/I – engineering procurement construction and management/installation EPCU – electrical power conditioning unit EPIDORIS – exploration and production integrated drilling operations and reservoir information system
Procurement software refers to a range of business software designed to streamline and automate purchasing processes for businesses and organizations. By managing information flows and transactions between procuring entities, suppliers, and partners, procurement software aims to cut costs, improve efficiency, and boost organizational performance.
Despite the fact that "Scrum" is not an acronym, some companies implementing the process have been known to adhere to an all capital letter expression of the word, i.e. SCRUM. Six Sigma is a business management strategy, originally developed by Motorola, that today enjoys widespread application in many sectors of industry.
Ke – Is used as an abbreviation for Cost of Equity (COE). Ke is the risk-adjusted, theoretical rate of return on a Company's invested excess capital obtained through external investment s. Among other things, the value of Ke and the Cost of Debt (COD) [ 6 ] enables management to arbitrate different forms of short and long term financing for ...
EPCI stands for Engineering, Procurement, Construction and Installation, a common form of contracting arrangement within offshore construction. The acronym EPIC for Engineering, Procurement, Installation & Commissioning is also used. Under an EPCI contract, the contractor will design the structure(s), procure the necessary materials, undertake ...