Engineering (engineering and consulting) services in the global market: Stages of development

Dmitriy Vasilevich Rybets and Evgeniy Ivanovich Bosin
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Dmitriy Vasilevich Rybets: Russian Foreign Trade Academy, Moscow, Russia
Evgeniy Ivanovich Bosin: Joint Institute for Nuclear Research (JINR), Dubna, Russia

Russian Foreign Economic Journal, 2016, issue 1, 101-111

Abstract: In the article, the authors analyze the main stages of formation and development of the engineering (engineering and consulting) services in the world market that developed over the last few decades into an independent services sector. Definitions and various specified interpretations of the term “Engineering Services” proceeding from the theory and international practice are given; qualification of engineering services is stated, functions of engineering services within investment projects are reflected. The role, value and activities of the leading world engineering companies engaged in development of investment projects abroad are revealed. The authors high-light the main Russian companies - the players that render engineering and consulting services both abroad and in Russia. Special attention is paid to some topical issues of the activities of the Russian engineering companies at the present stage, including active inclusion of an innovative component in the ongoing projects, creative use of information technology and computerization in the projects under development, resorting more widely to financial engineering and applying complex engineering, that is also relevant for the Russian economy.

Keywords: Engineering; Basic engineering; Detailed engineering; International Federation of Consulting Engineers; FIDIÑ. (search for similar items in EconPapers)
Date: 2016
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