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Surveying & Levelling I
- Introduction
- Surveying instruments; chains, tapes, steel bands, their types & uses.
- Chain Surveying
- Ranging & Chaining of Survey lines. Field work & Plotting of Chain survey
- Compass Surveying
- Prismatic Compass& Surveyor compass
- Uses, Bearings, Local attraction, Fieldwork & Plotting.
- Plane Table Surveying
- Parts and accessories. Methods of surveying. Two-point and three-point problems.
- Leveling
- General principle. Types of levels and their temporary and permanent adjustments. Methods of levelling. R Trigonometric Leveling.
- Theodolite. Types and uses of theodolites. Temporary and permanent adjustments. Measurement of horizontal and vert
- Tacheometrical surveying
- Methods of tacheometrical surveying. Field work and computation 7. Traversing _- Traversing with prismatic compass, theodolite and plane table, computations and adjustments of traverse,
- Omitted Measurements
- Calculation of Areas and Volumes_
- Earthwork calculations. D.M.D. method, Simpson rule and trapezoidal rule.
Labs
- Practice on measurement of distances and introduction to measuring instruments
- Chain Surveying and plotting
- Compass Traversing
- (^) Plane Table by methods of radiations and Intersections
- Two Points Problem
- Three Points Problem
- Level adjustments by two-peg method.
- (^) Profile and Cross-Sectioning
- Theodolite traversing
Recommended Books
- Kavanash,B. Surveying principles and Application, Prentice Hall
- Irvine, W. Surveying for Construction, McGraw Hill.
- Davis, R.E. Surveying Theory and Practice, McGraw Hill
Engineering Economics
- Basic Concepts
- Introduction to Engineering Economics
- Time Value of Money
- Different Methods of Analysis (Present Worth Analysis, Annual Worth Analysis etc.)
- Concept of Internal Rate of Return & Its use in Engineering Projects
- Various Types of Costs (Maintenance, Repair, Other Overhead Costs etc. ) & Benefits & Its Use in Engineering Pr
- Economical Life of Construction Equipment
- Inflation
- Depreciation & Its Types
- Cost Escalation
- Introduction to Break Even Analysis & Its Application to Engineering Project
- Sensitivity Analysis
- Demand and Supply Analysis
- Theory of Pricing & Theory of Production and Laws of Return
- Funding, Funding Agencies and Planning Commission
- Types of Business Organizations
- Labor problems, Labor Organization, Prevention and Settlement of Disputes
Recommended Books
- Donald G. Newman
- E.Peul Degarmo
- In construction, the term ‘prime cost sum’ (PC sum) is an allowance for the supply of labour, plant and materials to be provided by a contractor or supplier that will be nominated by the client. The allowance is exclusive of any profit mark up or attendance (such as material handling, scaffolding and rubbish clearance etc.) by the main contractor.
Variations
Variations in construction contracts can mean changes to the terms of the contract or changes to the scope or character of the works. That price shall be added to or deducted from the contract sum. A variation is usually effected through an instruction from the principal’s architect or superintendent. Such instructions are usually required to be in writing. Whether this is a pre- requisite to the contractor’s right to recover payment will depend on whether the requirement is a condition precedent.
It is common enough to have provisions, as these are here, more or less stringent, saying that no extra work shall be paid for unless it is ordered in writing by the engineer, and if such conditions are properly made, and there is nothing fraudulent or iniquitous in the way they are carried out, these conditions would be quite sufficient and effectual.
Dayworks
Dayworks are bound to come up from time to time since it is impossible working from a Bill of Quantities to cover all eventualities. Daywork is work for which the contractor is paid on the basis of cost of labour, materials, and plant plus an agreed percentage for overheads and profit. Payment in this way is usually reserved for items that cannot be measured and priced in the normal way.
All contracts normally provides that the first point of reference for the evaluation of variation orders, change orders or additional works instructions is the existing contract rates and prices. However, in the event that the work is different in nature or no similar item exists in the bill then only may dayworks rates be applied. Daywork payments may arise in contract variations for items such as breaking up unexpected obstructions excavations or for the adjustment of provisional sums.
There two types the Daywork rates can be priced in the bill.
Option ‘A’– Percentage Addition, is based upon the traditional method of pricing labour, plant and material in dayworks, and allows for a percentage addition to be made for incidental costs, overheads and profit, to the prime cost of labour, plant or material applicable at the time the dayworks is carried out.
Option ‘B’ – All Inclusive Rates, includes not only the prime cost of labour but also an allowance for incidental costs, overheads and profit. The all-inclusive rates are deemed to be fixed for the period of the contract. However, where a fluctuating price contract is used, or where the rates in the contract are to be index- linked, the all-inclusive rates shall be adjusted by a suitable index in accordance with the contract conditions.
Daywork is measured in a Lump sum contract
- Rates will be included in the contract for material, labor, plant and contractor profits.
- During execution of the works contractor should submit quotations for Engineer’s approval.
- Works can be executed after getting approval in writing from the Engineer.
- After completion of the works the contractor should submit to the Engineer along with IPC (Interim Payment Certificate) all the invoices, vouchers and receipts of goods, equipment and plant involved in the work.
Daywork is measured in an Item rate contract
In an item rate contract the item rates are not available within bill of quantities for extra items to
be executed, method of day works can be adopted as an option.
Land Surveing – Surveying types
Editor April 18, 2017 Land Surveing – Surveying types2017-05-02T17:42:47+00:00 Quantity Surveying, Surveying
What is surveying?
Surveying is the process of determine the location of a point on the earth’s surface, relative to other points with the help of measured horizontal distance, vertical distance, direction and angles among those points. Surveying is done to prepare a map to locate the needed point using the known or calculated survey data.
basiccivilengineering.com
Surveying types
Type 1: Plane surveying
Plane surveying is the process of surveying by assuming that the earth is flat. Which mean the curvature or spherical shape of the earth is not considered in plane surveying calculations. Hence, a line obtained by connecting any two points of earth’s surface is considered as straight line and angles obtained within those lines are considered as plane angles. In construction field plane surveying is the first step on most of the projects. Surveying experts noted that plane surveying is more accurate when the area is small (But here small area can refer up to 250km…!). Basic plane geometry and trigonometry are necessary to carry out plane surveying calculations. In plane surveying linear measurement and angular measurement are the two important components.
Type 2: Geodetic surveying
Geodetic surveying is a process of surveying by considering the curvature or spherical shape of the earth. The exact positions of points obtained on plane surveying are given by geodetic. Other than that geodetic survey is done for large areas and lengthy lines. Hence, the lines connecting any two points are considered as arch. Special instruments and knowledge of spherical trigonometry is essential for the accuracy of geodetic surveying. As the earth is irregular in shape (experts noted that earth is not spheroid as it doesn’t fulfil the spheroid rules) accurate positions are needed for wide range of purposes where accurate mapping is necessary. At this stage geodetic survey helps to fulfill the need. Triangulation and accurate traverse are the methods used in geodetic surveying.
The chain is composed of 100 or 150 pieces of galvanized mild steel wire called links, joined
together with oval rings and handles at both ends. The end of each link are bent into a loop and connected together by means of three oval rings. The ends of the chain are provided with brass handles for easy handling. The length of chain is measured from one handle to other handle.
Arrows or chain pins
They are also called as marking or chaining pins and are used to mark the end of chain during the process of chaining. They are made up of good quality hardened and tempered steel wire of 4mm in diameter. The arrows are made 400 mm in length. The one pointed part of an arrow is inserted into ground and the other is attached with ring.
Ranging rods or offset rods or ranging poles
Ranging rods or offset rods are round poles made up of wood or metal. These rods are used to
range intermediate points of a survey and to set out straight lines on the field when the surveying length is long. The only difference between ranging rods and poles is the length. Ranging rods and offset rods are commonly occurs in 3m length but the ranging poles are available up to 8m length. The rods possess a metal point at its bottom and the rod or pole is painted with red & white or black & white successive combination. When the survey lines are too lengthy a flag with red/white/yellow colour will be attached to the top of the pole for easy identification.
Pegs
The pegs are made up with wood and they used to mark the survey positions or terminals.
The size of the pegs (40 to 60 cm) depends on the type of survey work they are used for and the type of soil they have to be driven in. Although the pegs are driven into the ground 1/5 th of its part should be visible on the ground surface.
Plumb-bob
A string suspended with a weight at the bottom will be both vertical and perpendicular to any level plane through which it passes. The plumb consists of a specially designed weight and coarse string or special threads. At one end of the string the weight is affixed. Precisely machined and balanced bobs have pointed tips, and can be made of brass, steel, or other materials, including plastic.
Tapes
Tapes are used for more accurate measurements. The tapes are classified based on the materials of which they are made of such as:
- Cloth or linen tape
- Fiber tape
- Metallic tape
- Steel tape
- Invar tape
Common instrumental errors in linear measurement
- Length other than standard
Tape manufacturers do not guarantee 100 ft steel tapes to be exactly 100.00 ft. An error due to
the incorrect length occurs every time the tape is used.
- Temperature other than standard
Steel tapes are standardized at 68° F (20° C).
A temperature higher or lower will change the length of the tape. Temperature of the tape can be
quite different from the air temperature measured.
If tension is greater than standard the tape will stretch. If less than standard tension is applied the
tape will be shorter than standard.
A tape not supported along its entire length will sag. By applying correct tension the sag can be reduced.
This error occurs when one end of the tape is off-line or there is an obstruction in-line. The actual distance will be less than the measured dis
This error is random as the result of incorrect placement of chaining pins. Careful placement of chaining pins and then checking the measurement will reduce errors.
- Incorrect reading or interpolation
The error occurs when reading or noting the measurement clearly or in a hurry. Careful reading and using a small scale to determine the last figure will reduce errors
Optical measurement method
Editor June 5, 2017 Optical measurement method2017-06-05T15:14:35+00:
What is optical measurement method?
Optical measurement method is also known as tacheometry method or stadia method. Optical
measurement is inspection of measurement with the help of telescope and then calculations are solved using triangulation method to find out the distance. The instrument tacheometer is considered as important in this method. Other than these, level staff which is a graduated wooden or aluminium rod needed to carry out optical measurement. Before the electronic distant measurement method this method is more famous ad accurate for a particular distance. This is a suitable method to survey a hill country and counter lines.
Level staff
taken for the above process – time taken by the wave for the emission and return. Then the
following equation used to measure the distance, Distance= Velocity X time. The present EDM instruments have the following features, absolute circle reading, laser plummet, endless drives, 30 x magnifications, high resolution LCD display, Upload and transfer data, data editing and exchange and connectivity to 3rd party devices. The electronic distance measuring equipment is differentiated into three types as, microwave instrument, infra red equipment and light wave equipment.
Micro wave instrument
The surveying equipment functions with the help of micro waves come under this category. Normally these used to measure long distances within 100km with their frequency range. The very first instrument was discovered in South Africa by Col. Harry and developed by Dr. T. L. Wadley in 1950’s and the equipment named as Tellurometer. Tellurometer uses the above mentioned technique, the phase comparison of wave to determine the distance. In this method two equipment and two operators needed to carry out the procedure. Micro wave signals are radiated from primary source equipment to the reflector and then the reflector amplifies the micro wave signals to send them back to the primary source equipment in exact phase as they emitted from. B this method a maximum distance of 80 to 100km can be measured with an error correction of + or – 5 to 15 mm per km.
Infra-red wave instrument
The surveying equipment functions with the help of modulated infra-red waves come under this category. The use of infrared instrument is high in civil engineering surveying as they are inexpensive and more accurate when compare to the rest. Although these type of instrument used to measure up to a maximum distance of 3 – 5km, many civil engineering works limited to this distance. Distomats and electronic tacheometer or total station instruments falls under this category. In distomat, the instrument should be focused to the reflector distomat to receive, monitor and reflect back the wave signal. With a single touch the instrument displays the distance on the screen after measures the five modulation frequencies of infrared wave signal. The total station is the combination of electronic theodolite and electronic distant measurement equipment which can show the angles, elevation and distance. In these instrument an accuracy of
- or – 10mm per km can be obtained.
Light wave instrument
The light wave instrument use visible or simply light which means wave lengths that are visible
to human eyes to measure the distance. The measuring range of light wave instruments is lesser that that of microwave instruments as because of the less transmitting power of light wave instruments. Here primary equipment is used as light wave emitting instrument and corner cube prisms are used as reflectors. When compare to the rest this method is more cheap when compare the value of instruments. Geodimeter falls under this type of instrument. The one and only main consideration in this type is the alignment of equipment as the reflected wave travel parallel to the emitted wave which means the divergence of emitted wave is less than that of one degree. The plus points of this type instruments are, no signal loss, cheap instrument, one main instrument is enough and a very high accuracy of = or – 0.2mm to 1mm per km.
Estimation and costing – Types of estimate
Editor March 29, 2019 Estimation and costing – Types of estimate2019-04-01T13:36:30+00:00 BoQ
Estimation is the technique of calculating the coast of expenditure on a particular project. Estimation is necessary as it clearly gives an idea about the cost and time required to complete a project. An estimate helps to decide whether the funds and time allocated for the project is enough or not. To call tenders and to arrange the contractors also an estimate is necessary. A complete estimate doesn’t mean only the inclusion of labour, material cost. Many other direct and indirect cost influence an estimate. The process of cost estimating starts with gaining clear understanding of project work. Which means a clear knowledge on work execution methods and works that impact the overall cost should be considered. Secondly proper quantity takeoff using drawings, equations, practices and other necessary materials is the right step in the process of cost estimating. The next step is filling up with the unit rate to the estimated quantity using available sources such as subcontractors, suppliers, cost records and national cost data. Final step of cost estimating is to double check the finalized estimate. A complete estimate may include,
Cost of land – Which includes the actual cost of land, cost of surveying, cost of verification of deeds & execution of deeds, brokerage amount (if any).
Legal expenses between owner & contractor and contingencies. (Contingencies – cost that help to deal the unforeseen or unknown risks and they are expressed in terms of percentage).
Cost of structure – Which includes cost of labour, cost of material, cost of equipment, permit fees for water & electricity, consulting engineer fees, preparation of plan/ estimate/ design and cost of supervision.
Over head charges – A particular percentage of the total cost is added normally to meet the unpredictable expenses.
Documents and details necessary for the preparation of an estimate are as follows,
Drawings – Complete plan, elevation & sectional drawings. They should be with complete dimensions.
Specifications – Quantity & quality of the necessary materials, Detailed workmanship such as number of skilled and unskilled workers necessary to complete the work, number of days/ hours needed to complete the work, etc.
Rates –Standard schedule of rates of the current year/month which should include the unit rate, cost of transportation, wages of skilled or semi skilled labours.
Anyone who willing to engage them on constructing something, they’ll surely bother about the quality & money/cost. To feel free from them a solution called “estimate / estimation” was derived…! An estimator should be very careful of the quantity takeoff, using the given documents such as drawings, specifications and other documents regarding the project. Other than these, every estimate should prepare with the consideration of other 2 factors, which influence a project namely, direct & indirect cost. (Direct cost – cost of materials, equipment, labour & subcontracted cost, Indirect cost – overheads, contingency).
Types of estimate
Type1: Approximate estimate – It is also called budget, preliminary estimate. This type of estimate is prepared in the initial stage of a project. To give a clear idea to the owner (client) about the amount of cost needed for the project and to get the approval from necessary sanctioning bodies (eg: from banks to get loan). Documents such as project drawing plans, details about the land including electricity & water supply and a full clear report are necessary to carry out the estimate. Commonly the approximate estimate is calculated with relevant to the previous experience.eg: To calculate the estimate for a house, a previously (& also recently) completed similar house will be considered. Here the estimator already knows the rate for 1m^2 area & with that he/she calculates the cost estimate for
the newly proposed area (of similar house).
Approximate estimate = Rate of 1m^2 (already known value) X proposed area (m 2 )
Type 2: Plinth area estimate – Plinth area estimate can be achieved by multiplying the values of plinth length, plinth width & plinth area rate. Here the plinth area is referred as, external plinth area of the building at floor level. Simply it can be also stated as the roof covered area of a building. Plinth area rate is derived by dividing the total cost of a previously constructed building by plinth area of the previously constructed building. Plinth area estimate = Plinth area X plinth area rate. Plinth area = plinth length X plinth width Plinth area rate = Total cost of a previously built building / Total plinth area of that building.
There are some restrictions in calculating the plinth area of a building and some area have to include or exclude when calculating. Among that, areas which can include are, Floor area with area of walls at floor level excluding the offsets of the building, internal shafts of sanitary fittings within 2m2, lifts, air conditioning ducts, area of porch at floor level (cantilever part can’t be included), area of barsati – a room on the terrace or roof top with veranda outside. Areas which can’t include are, Area of lofts, open balconies / un enclosed balconies, fascia, towers which project above terrace level, louvers & vertical sun breakers.
Documents such as line plan with complete specifications & costs for services such as water,
electricity should be attached with estimate.
Type 3:
Cubic content estimate –
This type of estimate done by multiplying the volume of the building by the unit cubic rate achieved from the previously (also recent) estimate. This type of estimate is a little bit more accurate than above mentioned methods and mostly suitable for multi storied buildings. Here the cost of corbelling (corbel – a piece of stone, wood, brick, or other building material, projecting from the face of a wall and generally used to support a cornice or arch), cornice and other works like that are neglected.
Cubic content estimate = Volume of the building X unit cubic rate (known value)
volume of the building = plinth area (length X breadth of the proposed building) X height of the building (floor to roof top)
unit cubic rate = total cost of the previously built building / total volume of that building.
Type 4:
Annual repair estimate and special repair estimate –
These estimates are prepared in order to maintain the constructed element in good condition.
Works that attached when consider repair works, white washing, painting, plastering works, patching works & etc. Special repair estimate is prepared in situations where the costs of materials increased when compare to annual repair estimate cost.
Type 5:
Revised estimate-
This estimate is prepared when the rate of previously submitted estimate increases by 5% or
more than that. But here the reason for the preparation of estimate must have a strong & valid reason like sudden increase in cost of materials. The reason and comparative statement between 2 estimates should be annexed with the revised estimate.
Type 6:
Supplementary estimate –
This type of estimate is prepared when there is a necessary situation of supplementary work, to progress out the original work. The annexure of originally prepared estimate & supplementary estimated amount of the originally prepared estimate when submitting for requesting approve.
Type 7:
Detailed estimate-
Detail estimate is prepared with the help of complete set of contract documents. The preparation of detailed estimate can do under 2 phases such as work out with quantities of different works and calculate the cost of each work.
In case of masonry the height levels should be mentioned clearly as, foundation to plinth / plinth to 1st^ floor and so on.
Taking out quantities
There are different methods of way to taking out of quantities. For massive works, the volume should be defined. So length, breadth, height / depth measurements should be needed to calculate. The common unit of measurement is Cubic meter –Cum. Exemplary works for the massive works are earth work, concrete for foundation, Random rubble masonry.
For narrow works or surface works the area should be calculated. So length and breadth / height measurements should be needed to calculate. The unit of measurement is Square meter – Sqm. Works such as plastering, thin brick or block work for wall partitioning are some examples for this type.
For lengthy works linear/ running length measurement should be considered. The commonly used unit is meter – m (RM – Running meter) and fencing, plumbing are the exemplary works for this type measurement.
Also some single unit works such as fixing of doors, windows, rafters, trusses the numerical value is considered as measurement. They are denoted in terms of No – Number. (Windows – 5Nos).
Procurement methods in Construction Industry
admin October 5, 2016 Procurement methods in Construction Industry2016-11-29T14:25:43+00: Quantity Surveying
Procurement methods in Construction Industry
Introduction
Construction professionals are always keen to understand about procurement methods practiced
in industry. Therefore analyzing requirement and characteristics of procurement system is very vital. Core objective of a procurement system is identifying responsibilities and task for of each and every participant in a signed project.
Before looking at types of procurement, one should know what the functions are carried out in construction industry and parties involved with it. Generally, five functions are undertaken in a project. They are design, build, management, finance and operation. It can be understood that, a procurement system defines scope or responsibilities of each parties (Client, Consultant & Contractor). In other words, procurement system is very important term to understand properties of construction contract.
Types of Procurement methods
Commonly, five procurement systems are being exercised in industry. Each of them shall be discussed in detail below. It is recommended that, to have deep understanding on types of procurement methods, always functions of construction industry to be remembered.
1. Traditional Method
Responsibility of a contractor is limited only to build. All design works and management of contract are carried out by consultant or engineer. Finance and operation on project shall be controlled by client. This method of procurement recommended for complex and comparatively huge project.
2. Design & Build
As name suggests, design and build responsibility covered by contractor. Consultant’s scope only limited to management of contract. Client is responsible for finance and operation.
3. Management Contracting
This method of procurement system is completely different from traditional method and design & builds method. In addition to client, consultant and contractor, specialized contractors become as participant. Contractor acts as a manager for project whereas specialized contractors undertake real build aspect on their specialized field. Finance and operation carried out by client. This method will be chosen if there are possibilities to identify projects in packages.
4. Joint Venture/Partnering
Many of the problems that existed in construction are attributed to barriers that found between parties of contract. In other words, to overcome barriers, different parties establishing a working environment based on mutual objectives, teamwork, trust and sharing risks and rewards. The success of this setup solely depends on memorandum of understanding. Identifying responsibilities of each party is bit difficult in joint venture procurement system.
5. Private Financing Initiative (PFI)
Contractor is solely responsible for all functions of construction. After successful completion, project shall be transferred to owner. This is very helpful for client who does not have a sound financial background. This method generally used by government of developing countries.
The below chart compares and contrasts five main procurement methods in construction industry.
Sl.No Procurement methods Functions of Construction
Procurement methods in Construction Industry
Contract
The word as ‘Contract’ in human activities is so general under legal contest. In construction, the main important thing is that work information is enough to carry out the works though Contract also can be seen every projects.
The reason behind to include the contract is for helping to parties to overcome the situation where something goes wrong then no parties are willing to accept the fault or consequence of the problem.
A formal contract incorporating the terms described in the tender may be sent to the successful bidder for execution.
Contract types
The following are the various types of contracts,for execution of civil engineering works:
- Lump Sum or Fixed Price Contract
- Measurement contract
- Turnkey Contract
- Design and Build
- Cost Plus Contracts
- Unit Price Contracts
- Time and Material Contracts
- Item rate contract
- Percentage rate contract
- Labour contract
- Piece-Work agreement
- Target Contract
- Lump Sum or Fixed Price Contract
Under a Lump Sum or Fixed Price Contract, the contractor agrees to perform the work specified and described in the contract for a fixed price. The price of a fixed contract can only be changed upon the execution of a change order, under which the owner and the contractor either
(1) Agree for the contractor to perform additional work that falls outside the scope of the original work for an agreed upon extra compensation or
(2) Agree to remove certain work from the original scope of work and reduce the price of the contract in proportion to the work that the contractor no longer has to perform.
These types of contracts are appropriate when a clear scope and a defined schedule have been reviewed and agreed upon.
Advantages:
- Lower financial risk to Employer.
- Higher financial risk to Contractor.
- Minimum Owner supervision related to quality and schedule.
- Contractor has higher incentive to achieve earlier completion and better performance.
- Contractor selection is relatively easy.
Disadvantages:
- Changes difficult and costly. (but it usually is)
- (^) Need to substantially complete design prior to bidding.
- Contractor inclined to choose lowest methods / materials to comply with specification.
- Hard to build relationship. Each project is unique.
- Bidding expensive and lengthy.
- (^) Contractors may include high contingency within each Schedule of Rate item
- Measurement contract
Measurement contracts (sometimes called “re-measurement” or ‘measure and value’ contracts) contains a Bill of Quantities ( BOQ ) provided by the employer or its consultants, can be used in situations where the design (or type of works) can be described in reasonable detail, but the amount cannot. The contractor will quote against each BOQ item and enter a unit rate or unit price to build up the total contract price on basis of those BOQ quantities. During the construction period, the actual quantity of works executed under each BOQ item will be jointly measured and valued at the quoted rate for interim payment purpose.
A measurement contract might also be appropriate on projects where the design has not been completed in sufficient detail for bills of quantities to be produced.
It should be possible to describe the works in sufficient detail to determine a programme and to obtain rates from tenderers. Generally tenderers rates will be based on drawings and approximate quantities.
The actual contract sum (sometimes called the ‘ascertained final sum’) cannot be determined when the contract is entered into, but is calculated on completion, based on “re-measurement” of the actual work carried out and the rates tendered.
Measurement contracts can allow an early start on site, before design is complete, and they can allow changes to be made to the works relatively easily. However, there is inevitably some risk for the client as the cost of the works is not known. In effect, the client is taking the risk for any ‘unknowns’, and whilst this can result in competitive prices from contractors, the level of uncertainty for the client means that measurement contracts are rare other than on civil engineering projects.
- Turnkey Contract
A turnkey contract is a business arrangement in which a project is delivered in a completed state. Rather than contracting with an owner to develop a project in stages. The developer is hired to finish the entire project without owner input. The builder or developer is separate from the final owner or operator, and the project is turned over only once it is fully operational. In effect, the developer is finishing the project and “turning the key” over to the new owner.
This type of arrangement is commonly used for construction projects ranging from single buildings to large-scale developments.
- Difference between lump-sum contract & turnkey contract
Under a traditional lump-sum contract, the owner agrees to pay the developer to complete a project that is built to the owner’s specifications. The owner is given many opportunities to make
