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

Author

Listed:
  • Dmitriy Vasilevich Rybets

    (Russian Foreign Trade Academy, Moscow, Russia)

  • Evgeniy Ivanovich Bosin

    (Joint Institute for Nuclear Research (JINR), Dubna, Russia)

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.

Suggested Citation

  • Dmitriy Vasilevich Rybets & Evgeniy Ivanovich Bosin, 2016. "Engineering (engineering and consulting) services in the global market: Stages of development," Russian Foreign Economic Journal, Russian Foreign Trade Academy Ministry of economic development of the Russian Federation, issue 1, pages 101-111, January.
    • Handle: RePEc:alq:rufejo:rfej_2016_01_101-111
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