Introducing a New Methodology to Maximize the Success Reliability of Engineering, Procurement and Construction (EPC) Contracts

Application of reliability concept has not an appropriate situationin civil engineering projects. This concept is used in numerousdifferent industrial projects and has caused increase of theirreliability. One of the most important points in application ofreliability concept in civil engineering projects, is systematicapproach to EPC contracts. This paper will show a methodologyfor computation and enhancing of Reliability of EPC contracts onthe basis of system specifications. In this method, probability ofunsafe operations of system components is taken into account(instead of probability of safe operations); which is another pointthat has not seen in similar researches. Equalizing of risk effectsis one of the new ways that is applied in this method.۶۷۱ risks have been derived from study of conditions of EPCcontract; and these risks have been evaluated and the relationshipbetween them and EPC contracts is derived. To make similarrisks effects, decision-making parameters have been introducedthat produce similar risk effects. As an important parameter,reliability is more enhanced on the basis of taking financialproblems of projects into account. In a case study, it will beshown that reliability of a project is increased from %۶.۸۱ to %۱.,by using this methodology.

Keywords:

Reliability , Risk Analysis , Risk Management , EPC Contracts , Systems