EPC, HAM and Item-Rate: What the Delivery Model Actually Changes

The choice between an item-rate contract, a lump-sum EPC contract and the Hybrid Annuity Model is usually discussed as a financing decision. It is not: it is a decision about who designs, who owns the quantities, what event releases money, and how far scope can move before the contract runs out of room. This report reads the operative Indian instruments side by side on those four dimensions, and tests the result against the CAG's performance audit of Bharatmala Phase-I.

Part of AECS Research Global's publications programme — drawing on ARG's work across cost management, EPC advisory and integrated project delivery. Download the full report below.