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In an open-book contract, the buyer and seller of work/services agree on (1) which costs are remunerable and (2) the margin that the supplier can add to these costs. The project is then invoiced to the customer based on the actual costs incurred plus the agreed margin.
Open-book management (OBM) is a management phrase coined by John Case of Inc. magazine, who began using the term in 1993. [1] The concept's most visible success has been achieved by Jack Stack and his team at SRC Holdings .
OBA has become "a well-known practice in supply chain management", although Louise Dunne noted in 2014 that "it is still in its infancy". [5] It is especially relevant to cost-reimbursable forms of contracting, such as target pricing under the New Engineering Contract (NEC3 and 4), Public Sector Partnering Contract and JCT: Constructing Excellence contract, enabling construction clients to ...
A guaranteed maximum price (also known as GMP, not-to-exceed price, NTE, or NTX) contract is a cost-type contract (also known as an open-book contract) such that the contractor is compensated for actual costs incurred plus a fixed fee, which is limited to a maximum price. The contractor is responsible for cost overruns greater than the ...
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Open Book (Tahquitz), a technical rock climbing route at Tahquitz Rock, California Open-book accounting; Open-book contract; Open book decomposition; Open-book management; Open Book, a center for literary and visual arts co-founded by the Minnesota Center for Book Arts
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