The range of risks in major projects is broad and risk allocation is a key factor which will impact on the delivery of projects. This session will consider risk allocation in areas such as ground risk, unforeseen events (such as a pandemic), environmental issues and pricing risk. It will consider aspects such as; do fixed price contracts deliver certainty on price or do they inevitably lead to project failure? Impact of risk allocation on the ability to fund, impact of onerous risk pass-down on the procurement, does it restrict the pool of contractors willing to deliver the project, does it simply lead to increased costs? Are there unintended consequences of overly-onerous risk allocation?