Acknowledgments ixIntroduction: What This Book Is About 11 Ten Key Principles of Contracting 132 Data, Methods, and Nomenclature 293 Contracting and Project Outcomes: The Common Strategies 454 Exploring Why They Work the Way They Do 775 The Unusual EPC Lump- Sum Strategies 1156 Collaborative and Relational Contracting Strategies 1357 Prequalification 1598 The Use of Supplemental Incentives 1819 It's All About Risk 21510 Who Should Control Contracting Strategy? 24311 The Effects of Scale 25312 Toward Fair, Balanced, and Smart 261Appendix: Description of Independent Project Analysis, Inc. 271Glossary 275Index 283
EDWARD W. MERROW is the Founder and CEO of Independent Project Analysis, Inc., the world's leading evaluator of billion-dollar mega-projects. IPA benchmarks project costs, schedules, and safety, start-up and operational performance and helps owners gauge their competitiveness and project management practices.