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Project Alliancing is a form of business cooperation between two or more parties involved in a collaborative project(s) to take this project from the startup stage through the delivery stage. It is a legal framework that establishes relationships between the parties and explains how risks and responsibilities should be shared by the parties in producing the project and accomplishing its goals.
Project alliancing can be also regarded as a process of merging business organizations into a single temporary/permanent project management entity that makes centralized decisions and controls decision implementation. The process establishes cooperative relationships which are defined and agreed-upon in project alliance agreement.
All parties involved in project alliance agree upon the following:
- Costs incurred from the project are compensated by every party, by the amount of the party’s contribution to the project
- Risks inherited from the project are shared between the parties
- Benefits produced by the project are shared as well
- Decisions are made centrally
- Duties and responsibilities on the project are shared.
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