Today's strong capital project demand has created a resource-constrained market and increased buyers’ risks. Because the ability to influence the cost of a project is greatest at the beginning of the project, bringing strategic suppliers in early is essential to success. The speaker outlines the "P"EpC process, which places Procurement of critical materials and equipment earlier in the engineering, procurement, and construction sequence. Risk mitigation strategies are also discussed: Market / Sourcing Intelligence Supply vs. Demand Forecasting Low Cost Country Sourcing Logistics & Export / Import Compliance Supplier Inspection Escalation, Delivery, and Shop Load Forecasting Strategic Supplier Agreements PEpC Process