IFRS 15 Loss making contract confusion with IAS 37 Onerous contract provision

In the video lecture pertaining to the revenue recognition of a loss making contract (https://www.youtube.com/watch?v=F0sWlGlEGCE), the tutor explained that in case of a lose making contract, as per Prudence concept the entire loss would be recognized.

However, my question is wouldn’t the probable loss in contract make it onerous? So a provision of an equal amount would be created as per IAS 37 Provision, Contingent Liabilities and Assets instead of reporting the loss.

I would be grateful if you could provide with appropriate reasoning and details for this problem. Also if you can help me with relevant sections of the standard explaining the same?