Big companies, industries or businesses always lack the time and personnel to oversee projects, especially if the company is concentrated on profit maximisation as well as success. It would also cost the company money and time to send a representative to oversee the construction of new branches, plants as well as offices. Once the organisation is aware all the features they require in their new establishment, they source services from an external company which is specialised in taking care of such projects from the point of start to completion. The two companies will sign a contractual agreement which will be intended to represent the consensus of the firms in the delivery of the determined target. This entire concept is referred to as a turnkey project, which is a unique manner of carrying out business. In the contract, the firms agree that the outsourced company will be responsible for the construction, the design as well as the equipment of the facility, business or manufacturing plant. After the project is finished and ready for operation, the firm will turn over the facility to the purchasing company. This saves time and also ensures the entire project is completed successfully as the turnkey company is well aware of all the requirements to get the project perfectly done in a time and cost-effective manner.

1. Turnkey Project Management – The concept of the turnkey project management is to take control of construction projects which are both technical and complex. For instance, developing a manufacturing plant is not straightforward and a company's CEO would not have all the necessary details on how to go about it. Similarly, an architect might give a general overview but still miss out on crucial components. A turnkey company, however, takes control of the entire project management to reduce both the expenses and efforts required to develop such projects. Working in the general field of construction, they have the personnel as well as the knowledge needed to develop such complicated projects according to recent trends and functionality. This, therefore, protects the clients from issues such as design errors which may result in excessive costs as well as time delays.
2. Turnkey Engineering Solutions -- Before any project is initiated by the turnkey companies; a framework has to be developed which will include the various components that will be required for the project to be successful. The engineers come up with an initial plant design which is to be followed as well as a draft of the late stage maintenance. All the designs will be customised according to the operation of the company making each feature applicable. The design of the project is then assembled and tested to ensure everything works accordingly. After testing, the project will be delivered to the customer and the contract completed.

Contact a company that helps you with turnkey projects for more information and assistance.