There are many different types, such as: 1. Design & Construct 2. 'Turnkey' (heavily overlaps with No. 1)3. Cost Plus (Normally only used in extraordinary circumstances)4. Target Cost (Often used...
In a lump sum contract, the owner has essentially assigned all the risk to the contractor, who in turn can be expected to ask for a higher markup in order to take care of unforeseen contingencies....