The EPC management mode has been widely used in the construction of water conservancy and hydropower projects. How to effectively control the cost is an important content and difficulty in the management of EPC projects. Based on the summary of the characteristics of EPC mode in construction of projects such as clear responsibilities, high efficiency and total price contract, how the integrated management means to give its full play in controlling the whole life cycle, the whole process and the multi-directionof the total price contract is analyzed. Combined with the analysis of actual case study, it is shown that the integrated management of cost of EPC projects can make the EPC mode give its full play of integrated, scientific and innovative characteristics and functions through complementation of resource management and rational utilization so as to realize the goal of high efficiency and high benefit of projects.