The phrase “lump sum turnkey” does not appear in major encyclopedic references as a standalone, widely recognized concept. Consequently, there is insufficient encyclopedic information to define it as a distinct term.
The words that compose the phrase are each established in contract terminology:
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Lump sum – a fixed‑price contract arrangement in which the contractor agrees to complete a scope of work for a predetermined total amount, regardless of the actual costs incurred. The term is commonly used in construction, engineering, and procurement contexts.
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Turnkey – a type of contract or delivery model in which the supplier is responsible for designing, constructing, testing, and commissioning a facility or system so that it can be handed over to the client ready for immediate operation. The client “turns the key” and begins use without further work.
When the two descriptors are combined, the phrase is generally understood to refer to a contract that is both lump‑sum priced and turnkey in nature; that is, the contractor delivers a fully operational product or facility for a single, fixed price. This usage is observable in some industry documents and procurement notices, particularly within construction, infrastructure, and large‑scale engineering projects. However, because the combined phrase lacks a dedicated entry in authoritative reference works, it is treated here as a descriptive compound rather than a formally defined term.