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A turnkey or a turnkey project is a project in which a separate entity is responsible for setting up a plant or equipment (e.g. trains/infrastructure) and putting it into operations. It can include contractual actions at least through the system, subsystem, or equipment installation phase and may include follow-on contractual actions, such as testing, training, logistical, and operational support. It is often given to the best bidder in a procurement process.
Turnkey projects can also be extended, known as turnkey plus, where there is perhaps a small equity interest by the supplier and it will later on continue its operation through a management contract or licensing.
Common Usage
Something which is turnkey is something ready for immediate use, this term is generally used in the sale or supply of goods or services. For example buying a Turnkey car would imply that the car is road legal, mechanically fit, and that the only thing required of the new owner is to turn the key and drive the car.
The term turnkey is also often used in the technology industry, most commonly to describe pre-built computer "packages" in which everything needed to perform a certain type of task (e.g. video/audio editing) is put together by the supplier and sold as a bundle. This often includes a computer with pre-installed software, various types of hardware, and accessories.
Note: Precise definition of the types of allowable contractual features are contained in the Federal Acquisition Regulations (FAR).
Turnkey means to provide complete solution of problem
See also
"Turnkey"