Proceedings (National Conferences of The Society of Project Management)
2008.Spring
Session ID : 1206
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1206 Project Risk Mitigation with Convertible LSTK Contract
Tomoichi Sato
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CONFERENCE PROCEEDINGS OPEN ACCESS

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Abstract
Contract schemes between project owners and contractors have been classified into two typical categories: Lump Sum Turn Key (LSTK) and Cost Reimbursable. In recent years, however, a new type of contract scheme called "Convertible LSTK" has been being adopted for some major plant engineering/construction projects and recognized for its effectiveness. Its role to mitigate project risks is analyzed, and its implications to the IT and other industries are also discussed.
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© 2008 The Society of Project Managemen
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