Project Development: The Lump Sum Alternative

With the recent collapse in commodity prices the size and number of resources project has diminished markedly in recent years. Coupled with the disappearance of the "open cheque book approach", this has led to a revival of the lump sum or turn key project. The key features of this mode of development are compared with the "owner managed" and "reimbursable cost plus fee" alternatives - with respect to schedule, cost and quality control. Key facts for the successful implem- entation of this mode of development are identified. However, the approach is not advocated for all projects and the potential shortfalls are also identified.