The term turnkey construction has gained significant attention in the construction industry, but what exactly does “turnkey construction” mean? It refers to a comprehensive approach where a project is delivered to its owners in a ready-to-use state. The developer takes full responsibility for the entire project, from inception to completion, and afterward hands it to the owner.
Advantages of the Turnkey Methodology
This approach offers convenience to project owners. By taking full responsibility for the entire project, the developer becomes the single point of contact for the client. This streamlined communication ensures that issues are addressed promptly, reducing the potential for miscommunication and delays.
Turnkey projects are known for their efficiency in terms of time and cost. Since the developer handles everything, there is better coordination and resource management. This integrated approach minimizes the chances of unexpected cost overruns and ensures the project is completed within the stipulated timeframe.
Construction companies usually have a team of experienced professionals with diverse expertise in various fields. From architects and engineers to skilled laborers, having all the professionals and artisans in one place brings together a collective pool of knowledge. This experience contributes to the smooth execution of the work, maintaining quality standards throughout.
Disadvantages of the Turnkey Approach
While the approach offers convenience, it also means that the owners have limited control over the construction process. Since the developer is responsible for the project’s design and execution, the project owners may be unable to make real-time changes or adjustments.
Project owners heavily rely on the expertise and capabilities of the chosen turnkey construction company. If the company faces financial or operational issues during the execution of the project, it may lead to delays or complications beyond the owners’ control.
A turnkey project may have higher upfront costs than traditional construction methods. Since the construction company takes on the responsibility for the entire project, they will likely include a premium in their pricing. However, project owners must weigh this against the potential savings in time and efficiency.
What You Should Consider
The first factor to consider about a turnkey project is the cost. While it may seem appealing to have a turnkey project ready for immediate use, the price tag associated with the construction is often higher than other construction methods. The convenience and time-saving aspects of the approach come at a price.
Consider the level of customization offered. Because things are specified and charged right from the beginning with turnkey projects, customization options may be limited. The designs and specifications may already be predetermined, leaving little room for personalization. It is essential to assess whether the predetermined options align with your vision and requirements.
The reputation and experience of the company should be thoroughly researched before making a decision. Turning over a turnkey project to a company requires trust and confidence. Checking references, reading reviews, and looking at past projects can provide insight into the company’s capabilities and reliability.
