Abstract:

In response to the increasing adoption of cost plus remuneration contract model in petrochemical projects, this paper introduces the cost plus remuneration pricing methodology and, based on experience from multiple petrochemical projects, analyzes key challenges faced by  contractors, such as increased process control difficulties, cost ambiguity and complex settlement procedures, so as to achieve the goal of win-win for both parties.

Key words: engineering, cost plus remuneration, petrochemical project, cost control