EPCM (Engineering, Procurement, Construction Management) contractor, performs the entire technical design required for the investment and coordinates the implementation with the owner. The role of the owner is to make decisions. In the EPCM model, the engineering contractor is responsible for engineering design, procurement, and site control, and supports the owner in making timely decisions on engineering decisions, plant and equipment suppliers, building materials and contractors, and other investment-related decisions throughout the project. A good engineering contractor is an engineering company that is independent of technology vendors, familiar with the latest technology in the eld, and able to assist the owner in selecting the most appropriate solution for any particular facility. The independent engineering contractor compares and combines the best unit processes from different vendors and can use the latest intelligent process models in the facilities and incorporate them into the owner’s control systems. The EPCM model is clearly less risky than many other implementation models, and overall a less expensive option. In addition, it is a exible and “open” method of implementation, since the owner has full information about costs and progress. Decisions and contracts are concluded during the course of the project, which facilitates the selection of the best technical and economic solution for each situation at the right time. It is also a very exible model. While the main directions of the investment project are determined already at the project development stage, in practice, there are always clarications, changes and unforeseen situations during the project. When the owner is not legally bound by a single EPC agreement, exibility is maintained and the investor can always make appropriate changes/decisions during the process. In the EPCM implementation model, an organization is created specically for the project, and the project is supported by the best specialists. It is important to remember that the success of a project is driven by people, no matter how it is implemented, and that once the EPCM implementation is complete, the contractor’s EPCM project staff will no longer incur any costs to the owner. EPCM implementation is also widely used for small investment and maintenance projects. The fundamental logic is the same as in larger projects, only the scale is smaller. Small investments are often made without the important project development phases, which may then lead the project into unpleasant surprises. In the EPCM implementation these surprises are more manageable and, above all, more cost-effective to manage because the EPCM offers exibility and agility to make changes even after the implementation decision.