Construction “gigaprojects” are initiatives with expenses of well over $1 billion and which involve time periods of well over five years. They are engagements whose extraordinary size, duration and complexity might induce even the most seasoned of project professionals to rethink how they “do contracts.” The prospect of a gigaproject does not so much raise new questions as call for the careful reconsideration of otherwise established answers. What alternative forms of contracting might one use, how might they allocate economic and project risks, and what compensation might drive the parties’ behavior?
