Construction with transparent costs
In an Open Book arrangement, we agree how project costs are presented to the client and how ITTU's fee is calculated. From the outset we set out the availability of documents, procurement approvals and the reporting procedure.
What you see as the project progresses
Under the agreed accounting model, we compare the budget, commitments for works and materials ordered, actual costs and the forecast to completion. That allows changes to be discussed on the basis of specific cost items.
What has to be agreed before the start
We define the eligible costs, ITTU's fee, the contingency, the procurement procedure, the approval of additional work and the final account. We also agree how price changes and changes in project scope are handled.
Suitability for your project
The model is assessed on how far the design has progressed, the client's involvement and the level of cost control required. It can be used together with the organisation of design and construction.
Frequently asked questions
Related pages: Design & Build, private houses, fit-out.
Does Open Book mean a fixed price?
It provides cost transparency. A fixed sum or a cost ceiling are separate terms to be agreed.
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