The Unconventional Business Of Turnkey Projects

Businesses are always in the lookout for trying out methods which would bring them the maximum profit in the most cost-effective manner. In this new age, a smart business is the one which is ready to adapt. Every now and then, new techniques are coming into the world of businesses to help it survive and grow. One of the unconventional modes of carrying out international business is a Turnkey project. But what is it all about? How do you operate it? How is it implemented in a business? EXIN Magazine brings for you everything that you needed to know about Turnkey projects.

A turnkey project is generally produced by a team of contractors and project leaders who have experience with the type of project that is being produced. These contractors will do everything needed for the project. A project idea is often handed over to them and they are expected to produce the project up to the standards set by the company they are contracted with. They will be able to do everything from the design of the project to the minor details. This project is then handed over to the project manager, who functions as a customer or client in this situation.

Literally, turnkey means that the project manager will only have to turn a key to have the business or project running. Although not every project has a literal key, it is figurative. The project manager or client will only have to do very minimal work. They can expect a turnkey project to be returned to them and fully operable when they are ready.

Thus, in simple terms, turnkey refers to something that is ready for immediate use, generally used in the sale or supply of goods or services. The word is a reference to the fact that the customer, upon receiving the product, just needs to turn the ignition key to make it operational, or that the key just needs to be turned over to the customer.