The buck stops here
the owner's legal and practical responsibility for strategic project management
Project owners bear the brunt of intensive interrogations from stakeholders, regulators, public interest advocates, and contractors. They also shoulder the primary repercussions of most project mishaps, including increased costs, delayed schedules, and deficient performance. This article examines the legal principles that owners--including corporate boards of directors--can use to navigate the challenges involved in realizing projects. In doing so, it discusses the owner's traditional project role as well as their responsibility for defining their project's guidelines; it examines cases that have pushed forward more rigorous standards for project owner performance. It then explains the owner's responsibility for the project roles they choose to play, responsibilities that affect project implementation, responsibilities that involve contract decision-making and contractor selection as well as the contract form and the owner-contractor relationship.