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 development manager or the turnkey solution provider is hired to finish the entire project including design, construction, PMC.

The development manager or the turnkey solution provider is separate from the final owner or operator, and the project is turned over only once it is fully operational. In effect, the development manager or the turnkey solution provider undertakes the project from start to end and “turns the key” over to the owner.