EPCM is a type of contract used in engineering and construction. Its name "EPCM" corresponds to the acronym of the English words Engineering, Procurement, Construction Management which, literally translated into Spanish, correspond to Engineering, Procurement and Construction Management.

This is a form of contract arrangement in the construction industry, which can be used depending on the project.

Through this contract, the Project Owner signs an EPCM contract with a company that will be the EPCM Contractor. The EPCM contractor designs using a reimbursable cost model per hour, and manages on behalf of the Project Owner the purchase of equipment and components required by the project and manages the contracting of the Construction Company and manages the construction process (including carrying out audits, progress certifications) as an agent of the Project Owner.

Unlike an EPC (Engineering, Procurement, Construction) contract, an EPCM contract is essentially a contract for professional services, which is based on a fee schedule, with or without a multiplier.[1]​.

Hiring EPCM has some significant risks and drawbacks. In general, these can be summarized as a transfer of risk and responsibility to the Owner, compared to what occurs in an EPC or "turnkey" contract. Three of these drawbacks are key to understanding EPCM contracting:.