What does open book mean in construction?
Short definition
Open book means the contractor shares cost information, backup, and pricing details with the owner or project team.
Longer explanation
It is common in negotiated work, GMP contracts, cost plus contracts, and collaborative delivery methods.
Example in context
“The project team reviewed the open book during the construction phase.”
Common users
- Owners
- Architects
- Contractors
- Construction managers
Related terms
Related resources
Construction Contract TermsContract and agreement terms used for pricing, obligations, general conditions, payment, changes, and claims.Project Delivery TermsDelivery method, team structure, preconstruction, risk allocation, and contract strategy terms.GMP vs Cost Plus ContractLearn how a guaranteed maximum price differs from a cost plus construction contract.