What is a turnkey construction? Well, for starters, it could be the answer to your next construction project. Turn-key is a term used by agents to specify that a site is ready to move-in. Many managers now prefer turnkey contracts as they make the process more efficient. A turnkey construction, basically a building solution that significantly makes things easier for the owner of the upcoming projects. In these projects, the project manager is handed over the duty for all designing and construction work; while the owner waits for the constructor to finish the job. After completing the project, the owner ‘turns the key’ and uses the new facility. There are three components of contracts that fall under the umbrella of turnkey construction projects:
- Design – The contractor executes designs, and the owner does not have to hire architects and designers to get the job done individually
- Procurement – The contractor locates and purchases supplies and resources through his or her dealers
- Construction – The contractor is the boss; and controls every phase of construction. The owner does not have to invest time researching subcontractors and can stay at a distance without partaking in the process
One of the many benefits of hiring a contractor through turnkey construction is that the owner does not have to play an active role in the execution of design, procurement of supplies, and even during construction. The owner’s job only involves providing access to the construction site and dealing with respective licenses and permits. The contractor is then expected to deliver a fully constructed site or facility at an agreed price and within the deadline.