Fluor 2014 Annual Report Download - page 36

capitalize on developing our cyclical markets when the timing is appropriate. This strategy also allows us to
better weather any downturns in a specific market by emphasizing markets that are strong.
Client Relationships Our culture is based on putting the customer at the center of everything we do.
We actively pursue relationships with new clients while at the same time building on our long-term
relationships with existing clients. We continue to believe that long-term relationships with existing,
sometimes decades-old, clients serves us well by allowing us to better understand and be more responsive
to their requirements. Regardless of whether our clients are new or have been with us for many years, our
ability to successfully foster relationships is a key driver to the success of our business.
Risk Management We believe that our ability to assess, understand, gauge and mitigate project risk,
especially in difficult locations or circumstances or in a fixed-price contracting environment, gives us the
ability to selectively enter into markets or accept projects where we feel we can best manage risks. We have
an experienced management team, particularly in risk management and project execution, which helps us
to better anticipate and understand potential risks and, therefore, how to manage them. Our risk
management capabilities allow us to better control costs and ensure timely performance, which in turn
leads to clients who are satisfied with the delivered product.
General Operations
Our services fall into five broad categories: engineering, procurement, construction, maintenance and
project management. We offer these services independently as well as on a fully integrated basis. Our
services can range from basic consulting activities, often at the early stages of a project, to complete design-
build and maintenance contracts.
• In engineering, our expertise ranges from traditional engineering disciplines such as piping,
mechanical, electrical, control systems, civil, structural and architectural to advanced engineering
specialties including process engineering, chemical engineering, simulation, enterprise integration,
integrated automation processes and interactive 3-D modeling. As part of these services, we often
provide master planning and conceptual design services, which allow us to align each project’s
function, scope, cost and schedule with the client’s objectives in order to optimize project success.
Also included within these services are such activities as feasibility studies, project development
planning, technology evaluation, risk management assessment, global siting, constructability
reviews, asset optimization and front-end engineering.
• Our procurement organization offers traditional procurement services as well as supply chain
solutions aimed at improving product quality and performance while also reducing project cost and
schedule. Our clients benefit from our global sourcing and supply expertise, global purchasing
power, technical knowledge, processes, systems and experienced global resources. Our traditional
procurement activities include strategic sourcing, material management, contracts management,
buying, expediting, supplier quality inspection and logistics.
• In construction, we mobilize, execute, commission and demobilize projects on a self-perform or
subcontracted basis or through construction management. Generally, we are responsible for the
completion of a project, often in difficult locations and under challenging circumstances. We are
frequently designated as a program manager, where a client has facilities in multiple locations,
complex phases in a single project location, or a large-scale investment in a facility. Depending
upon the project, we often serve as the primary contractor or we may act as a subcontractor to
another party. We also provide a variety of fabrication and modularization services, including
integrated engineering and modular fabrication and assembly, modular construction and asset
support services.
• Under our operations and maintenance contracts, our clients ask us to operate and maintain large,
complex facilities for them. We do so through the delivery of total maintenance services, facility
management, plant readiness, commissioning, start-up and maintenance technology, small capital
projects, turnaround and outage services, all on a global basis. Among other things, we can provide
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