Cost Overruns in Engineering Procurement Construction (EPC) Fabrication Oil and Gas Megaprojects in Malaysia: The Importance of Resource Allocation (5M)

Every project involved in oil and gas fabrication erected onshore usually experiences cost overruns if lack of monitoring. This overrun is closely related to the use machines, manpower, methods, money, materials (5M) order a where all these resources require good financial cycle. However, often occur due improper management planned resource allocation from 5M. Therefore, this study was aimed examine importance on control specifically projects as preliminary study. Semi-structured interviews were conducted with ten (10) qualified specialists Engineering Procurement Construction (EPC) Oil Gas industry. Among that contribute controlled are spending within budget, meeting value, optimizing usage materials, sufficiently manage machinery manpower match goals. The networks ATLAS-ti, it discovered money had greater impact allocated resources, issue budget or does not meet requirements major led overruns.