EPC (Engineering, Procurement, Construction) is a project delivery model where a single contractor assumes full responsibility for design, procurement, and construction under a lump-sum or fixed-price contract. EPCM (Engineering, Procurement, Construction Management) has the contractor providing the same services but acting as the owner’s agent, with the owner holding direct contracts with suppliers and construction contractors. EPC transfers more risk to the contractor, while EPCM gives owners greater control and visibility at the cost of retaining project risk.