Are inappropriate risk allocations in construct contracts a root cause for (mega) project delivery failure: a Korda Mentha perspective

In this paper, we analyse the current risk allocation that results from the use of EPC contracts on projects (particularly on mega-projects), why this allocation of risk does not (and cannot) work in the real world, the practical impact this has on the delivery (and dispute of) construction projects, and what could be done to attempt to curb this in the future.