What is a contractual agreement where a single company manages the entire construction process from start to finish?

A contractual agreement where a single company manages the entire construction process from start to finish is described as a turnkey contract. This type of agreement is characterized by the fact that the contractor is responsible for both the design and construction phases of a project. Once the project is completed, the contractor hands over the finished product to the owner, often ready for immediate use. This allows for streamlined communication and efficiency, as the same entity handles all aspects of the project, minimizing the potential for misunderstandings or delays that can occur when multiple contractors are involved.

In a turnkey arrangement, the client typically has less direct involvement in the minutiae of the construction process, as they are essentially "turning the key" over to the contractor to deliver a fully functional project. This method is particularly beneficial for clients who want a single point of contact and simplicity in management, freeing them from the complexities of coordinating various contractors and sub-contractors throughout the construction lifecycle.