Debate: In contracts, we trust - managing risk in public contracts through a relational approach

Public sector risk is often spread across extensive contractual networks. When these contracts fail, the public sector bears the consequences, including wasted funds and damage to the government's reputation.

This article delves into the exploration of risk management in public contracts through a relational approach. It discusses notable contracting failures in the UK, highlighting the need to reevaluate the traditional transactional model of contracts. The article proposes that embracing a relational contracting approach, centred on trust, adaptability, and collaboration, could offer a solution, ensuring better value for money for governments and citizens.