The American EPC & Project Management Summit 2024 was a grand success. It was held on 24-25 Oct, 2024 in Houston, Texas. This included industry leaders, innovative minds, and experts. They discussed the new trends, hurdles, and solutions faced in the management of large projects. Furthermore, the event allowed the participants to be part of some of the most fantastic thought-provoking discussions, informative sessions, and interaction with fellow experts whose commitment is bound by a shared passion for excellence in EPC project management.

This article will go deep into the sessions that occurred during the summit. In addition, it will provide an overview of the partners for the event, showing their contribution to the success of the American EPC & Project Management Summit 2024.

American EPC & Project Management Summit 2024: Let’s Know About The Valuable Sessions

The sessions at the American EPC Project Management Summit 2024 gave coverage to a wide range of topics. Moreover, these sessions were led by industry experts who brought forth their input and practical solutions to the challenges that the industry currently faces. So, let’s check them out:

Efficient EPC Project Management For Successful Energy Project Execution.

Evonik’s Global Director Nirav SHAH explored the principles of efficient EPC project management. The speaker gave an insight into the EPC projects of today and tomorrow in the oil, gas, and energy industry. The sessions also explored the fundamentals when it comes to effective management of EPC projects.

Furthermore, the speaker discussed the common problems and offered solutions to the obstacles. This was with a focus on the need to establish good relationships among project stakeholders.

Strategic Cost Management For Large-Scale EPC Projects

Vishwambhara Kumbharathi, a Board Member of the American Association of Cost Engineering, spoke on using accurate budgeting methodology and forecasting models. This is to anticipate and control project expenditures. Furthermore, the speaker talked about using high-level control systems. This is to track costs in real-time and avoid overspending.

Moreover, the session went into how to apply value-engineering techniques to find areas where costs could be reduced. It also saw topics like contingency plans to address any financial hurdle that is unseen and implementing in-depth lifecycle cost analysis. This is to make sure of long-term sustainability in the financials of the project.

Optimizing EPC Projects With AI: Overcoming Delays And Accelerating Delivery Through Generative Scheduling Technology

Kevin FULLER, Industrial Solution Leader at ALICE Technologies gave this session. The speaker discussed how generative scheduling technology can enhance project results. The session also reflected on how to quickly scan through many project possibilities, how to assess risks, how to respond to shifting circumstances, how to reduce downtime, and how to discover the best solutions.

This session at the American EPC & Project Management Summit 2024 gave attendees a live brief demo of ALICE technologies as well. It gave a case study on how a project owner used ALICE to gain alternatives to speed up the schedule with minimum risk.

Control What You Can / Excellency In Supply Chain Management In EPC Projects

Peter Dill, Senior Purchasing Manager – Indirect at Huntsman Corporation, spoke about the need to identify the weak links in global supply chains, develop plans to diversify suppliers, and localize production. The presenter spoke on how to obtain supply chain integrity and compliance with health, safety, and environmental regulations.

The session focused on the fact that supply chain management plays an important role in the prosperity of EPC projects, but significant proactive approaches have to be developed to mitigate risks to ensure the continuity of critical materials and components.

Why Megaprojects Need Artificial Intelligence? Overcoming Complexity With Technology

David LEVY, Head of Marketing, and Hannah STEPPERUD, Customer Success Manager at Foresight Works, reviewed the major problems in megaproject investments and the possible remedies. Furthermore, they stressed the complexity of megaprojects which no human group can adequately control, and the need for AI to help project managers.

The session explored the role that artificial intelligence plays in addressing the intractable complexities of megaprojects. It also showed how AI allows project managers to make better decisions and identify risks, thereby giving their best results.

Failure To Plan Is Planning To Fail: Preliminary Preparations For Successful EPC Project Execution

Alexandre CARVALHO PEREIRA, EPC Project Manager – Renewable Energy at Shell, discussed best practices for end-to-end project planning. The speaker further discussed cost estimation and budgeting, staffing/ training, and giving responsibilities. Moreover, the speaker talked about procurement planning and risk management. 

So, the session at the EPC Conference 2024 stressed the need for detailed planning and preparation in the EPC project management, and the importance of preventing problems and risk before the project is executed.

Effective Dispute Resolution Strategies For Mega Projects

Robert T. ADAMS, Managing Director at Ankura, dived into centralized project delivery and unified engineering. Furthermore, the speaker gave insights on digital twins, project execution models, and integrated solutions. These can increase transparency and collaboration, and lower overall costs for greater performance in mega projects.

The session discussed the methods and techniques that can be used to successfully settle disagreements in large, complex projects, with an emphasis on the need for pre-emptive conflict prevention and joint problem-solving.

Energy transition: Role of oil & gas in a low-carbon world And The Implications For EPC Contracts.

In a panel, Robert T. ADAMS, Managing Director at Ankura, Daniel HOFFIZ, Senior Lead Counsel at Total Energies, and Juan PARRA, Advanced Project Controls Specialist at Marathon Petroleum, discussed the energy transition and the role of oil and gas companies in it. They dived into the inclusion of sustainability criteria in EPC contracts, and the integration of climate change resilience considerations into project design, construction, and operation. They also discussed initiatives to increase energy efficiency, reduce methane emissions and environmental impact.

So, the panel discussion drew attention to how the energy sector is changing and how EPC projects must evolve. This is to accommodate the increasing focus on sustainability and decarbonization. It also reflected how the sector’s expertise and infrastructure can be used to enable the transition to a low-carbon future.

Improve Your Total Cost Management Processes

Sharon BOSCH, Lead Implementation Consultant at Cleopatra Enterprise, spoke about using predictive modeling and data forecasting to help predict project risks and opportunities. Furthermore, the speaker gave importance to bringing data-driven analysis into the project planning process, as well as using analytics to improve project scheduling, resource allocation, and cost optimization.

So, the session at the American EPC & Project Management Summit 2024 focused on the importance of adopting data-driven approaches to cost management. It enabled project teams to make more informed decisions, identify potential challenges, and optimize resource allocation. This is to ensure the financial sustainability of EPC projects.

Effective EPC Project Management And Dispute Minimization

Daniel HOFFIZ, Senior Lead Counsel at Total Energies, described approaches to regular project reviews. Furthermore, the speaker spoke on:

• Open and transparent communication, 
• Resolution of new issues through collaborative dialogue and negotiation, 
• And record of resolutions to clarify and hold parties accountable in EPC projects.

So, the session emphasized the importance of good communication, cooperation, and documentation in reducing the risk of disputes. It also reflected its importance in making sure that EPC projects run smoothly. The need for a proactive and open attitude to project management became clear with this.

Best Practice Data Management For Successful EPC Project Execution

Pavan NARAPARAJU, Director of Project Controls at Texas International Terminals gave this valuable session. The speaker spoke on:

• Understanding the complexities of data acquisition in complex projects, 
• The approaches used to collect and utilize intangible data, 
• And the influence of IoT and AI on data acquisition, management, and use strategies.

The session at the EPC Conference 2024 also highlighted the need for better data management in EPC projects, and the use of new technologies. This is to enhance the quality, accessibility, and analysis of data, leading to better decision-making and project outcomes.

Effective Dispute Resolution Strategies For Mega Projects

Daniel LEVER, the Equity Partner at Clyde Co US LLP, discussed proactive conflict avoidance through contracting approaches and early-stage engagement. Furthermore, the speaker spoke on:

• Evidence and document retention, 
• The use of FOIA requests, 
• Leveraging alternative dispute resolution methods, 
• And early retention of experts to maximize collaboration and resolve disputes in mega projects.

So, the session provided attendees with a comprehensive understanding of the legal and contractual strategies. These can be employed to minimize the risk of disputes. It can also help to effectively resolve any conflicts that may arise in large-scale, complex EPC projects.

Future and challenges of project controls digitalization

Bemi ANJOUS, CISO at Noble Corporation gave this session. The speaker addressed:

• The status of EPC project controls, 
• The need for data and tools to replace current practices, 
• A model framework for project controls that relies on data analytics, 
• And the challenges faced in the transformation and digitalization of the industry.

So, the session at the American EPC & Project Management Summit 2024 illustrated how project controls in the EPC industry continue to evolve. This is with a need to move to a more data-driven and digitized approach to project management. It also reflected the challenges that need to be overcome to realize that change.

Efficient Construction Project Management: Leveraging Advanced Tools And Strategies

Amit Borele, Managing Director of Paras Cadd Pvt Ltd, spoke about effective construction management. Furthermore, the speaker dived into: 

• The use of Autospool for automatic spooling, 
• MTO analysis and look ahead planning, 
• Material front analysis for fabrication and erection work, 
• Integrated material management, 
• Revision management of piping isometrics, 
• And deployment of technology for live progress monitoring.

So, the session demonstrated the value of adopting advanced tools and strategies in the construction phase of EPC projects. Moreover, the highlight was how these innovations can improve efficiency, reduce costs, and enhance overall project performance.

Overcoming the complex challenges of EPC projects

This was a panel discussion with the following members on the panel:

• Pavan NARAPARAJU, Director Project Controls at Texas International Terminals, 
• Daniel LEVER, Equity Partner at Clyde Co US LLP, 
• Vishwambhara KUMBHARATHI, Board Member at the American Association of Cost Engineering, 
• Amit BORELE, Managing Director at Paras Cadd Pvt Ltd

They discussed issues ranging from assembling a strong project team to contractor tendering and procurement. Furthermore, the discussion at the Project Management Summit 2024 went on to comply with emerging regulatory requirements, comprehensive risk analysis, and the utilization of emerging and new technologies to achieve the best possible outcomes.

So, the panel discussion gave a complete picture of the intricacies of EPC projects. These tend to be so complicated that they can only be overcome through a multipronged approach. This is one that includes expertise, collaboration, and technological innovation to succeed in the project.

Partners of The American EPC & Project Management Summit 2024

The American EPC & Project Management Summit 2024 was sponsored by a diverse group of partners. From technology providers to global consulting firms, these partners represent the breadth of expertise and support that was available to attendees. So, let’s take a deeper look at them ahead:

ALICE Technologies – Silver Sponsor

ALICE Technologies is the company that developed the world’s first construction schedule optimization platform. It is built to optimize, de-risk, and recover capital projects with AI. Furthermore, the company collaborates with large customers globally across the infrastructure, industrial, and commercial construction sectors. This is to enable them to identify the most efficient path for their projects at reduced risk. Additionally, ALICE Technologies with its headquarters in the U.S. has major operations in the Czech Republic, U.K., and India. 

PARASCADD Private Limited – Bronze Sponsor

The company PARASCADD Private Limited is a pioneer in providing holistic solutions in Project Control, Material Control, Construction Management, HSE, Risk Management, and Office Automation. Furthermore, the company has more than 25 years of experience and is a one-stop shop for automation and management across processes and infrastructures of super and mega projects. Additionally, the software developed by PARASCADD enables EPC teams to increase efficiency in time, cost, and quality with customization options on a single platform.

FORESIGHT – Bronze Sponsor

Foresight’s construction project management platform automatically identifies priorities, risks, and action plans to help owners and contractors deliver major projects on time and within budget. Furthermore, the platform revolutionizes planning and execution. This is by creating proactive ‘look-ahead’ action plans, igniting dynamic collaboration, staying ahead of risks, and enhancing schedule visibility and reporting. Moreover, Foresight’s AI-powered insights and predictive analytics prove to be invaluable for EPC project management.

Ankura Consulting Group, LLC – Presenting Partner

Ankura Consulting Group is an independent global expert services & advisory organization. It supports clients through pivotal moments with end-to-end solutions and services. This is related to conflict, crisis, performance, risk, strategy, and transformation. Moreover, Ankura’s collaborative approach, combined with its capabilities and expertise, makes the company a trusted partner to EPC project stakeholders. This is to protect, create and also recover value. They serve over 3000 clients across 55 countries through more than 1800 professionals.

Cleopatra Enterprise – Presenting Partner

Comprehensive Project and Turnaround Management Platform of Cleopatra Enterprise provides an integrated project cost management solution for all phases of a project lifecycle. Furthermore, the company has enabled over 500 of the industry’s leading companies in 75 countries to execute complex projects and turnarounds, get higher project performance, and also remain competitive in the fast-paced world. Additionally, equipped with a well-rounded platform, Cleopatra Enterprise supports EPC project teams in building robust capabilities in project control.

Clyde & Co. – Presenting Partner

Clyde & Co. operates exclusively in sectors that construct, transport, energize, and safeguard the international economy. So, the company maintains a strong presence in the energy and natural resources industry. Furthermore, their energy and natural resources team consisting of lawyers offers best-in-class advice in all areas of contentious and non-contentious disciplines. The company also gives sharp insights into complex and rapidly changing markets. So, a high level of industry understanding along with a pragmatic, risk-averse approach makes Clyde & Co. a valuable partner to EPC project stakeholders.

To Sum Up

The American EPC & Project Management Summit 2024 marked a milestone for the industry. It emphasized forward-looking solutions in sustainable growth and project management innovation. Through valuable sessions and collaborative discussions, attendees gained fresh perspectives and practical strategies. This is to address current challenges in EPC projects. Moreover, the support from industry partners played a crucial role in making the event impactful. So, looking ahead, professionals are encouraged to join future sustainability-focused events. These events will promise to foster knowledge-sharing and drive the respective industry toward greater efficiency and environmental responsibility.