Key EPC KPIs for ensuring success

Tracking certain KPIs (Key Performance Indicators) is a proven way for businesses in any sector to ascertain performance targets, while encouraging the creation of key business objectives to help realize these goals. Given the primary purpose of both construction and EPC (Engineering, Procurement, and Construction) companies is to design, construct, and sometimes operate and maintain an asset, many assume the ideal KPIs for these two types of contractors are aligned.

Experts at IFS have outlined a set of best practice KPIs which EPC contractors should measure to maximize their project and business performance. By calculating these specialized KPIs, EPC businesses can collect the data they need to keep projects on track and improve their overall efficiency, project delivery performance, and project and business profitability.

This can ensure that they’re able to deliver superior Moments of Service for the major clients they’re working with. IFS defines Moments of Service as the singular moment where everything in a business, particularly its relationship with both clients and subcontractors, works harmoniously together.

In short, projects are delivered to a high quality, on time and on budget, and the asset delivers the intended outcome.

Download the whitepaper to know what are KPIs, the importance of project forecast margin, tracking construction and subcontractor performance etc., and more.