Much discussion has taken place in recent years as to the shift away from fixed price work, into novel and unique forms of contract which offer the chance for contractor(s) and client to work together in a spirit of cooperation, and to add value to the contract by the sharing of risks and rewards. The outlines included in this paper are designed to illustrate the shift from 'traditional' to 'cooperative' contracting, the key case studies that will feature in the presentation on risk and reward, and to summarise a number of the issues, lessons learned, and pitfalls that have appeared as a recurring element in the execution of these contracts.
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