What does EPC stand for?

EPC stands for Engineering Procurement and Construction, which is a common project delivery method used in the construction and engineering industry. This approach involves three main phases in a project: the engineering phase, where the project design and specifications are developed; the procurement phase, which focuses on acquiring the necessary materials and equipment; and the construction phase, where physical building or implementation occurs.

Choosing this method allows for a single contract to cover all aspects of the project, streamlining communication and accountability. The EPC contractor takes on the responsibility for delivering the project, typically resulting in a single point of accountability for the owner or client. This ensures that various components of the project are closely coordinated, which can lead to more efficient project execution, reduced costs, and shorter project timelines.

In contrast, the alternative options mention concepts like planning and control, but they do not accurately represent the common terminology used within the engineering and construction sectors. The clarity and specificity of the term "Engineering Procurement and Construction" further support it as the correct understanding in this context.