Maintenance program using contractors olm26250/iStock/Thinkstock

Contracting Considerations, Part 3

With smaller projects, always task somebody with accurately determining what the maintenance requirements will be.

One way smart plant engineers use contractors is to “offload” onto them expensable small projects or small capital projects.

With a large capital project, the typical plant engineer (or other responsible party such as the plant electrical engineer) knows the details by dint of having designed the project. To get large capital approval, a great deal of information is obtained ahead of time. To properly chart the cash flows (to determine the Internal Rate of Return or simila

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