What aspect does open book pricing mainly promote between the contractor and client?

Open book pricing primarily promotes transparency and collaboration between the contractor and the client. This pricing method involves the contractor providing a full disclosure of the project costs, including labor, materials, overhead, and profit margins. By sharing this information, both parties can work together to make informed decisions throughout the project.

This transparency builds trust, as clients can see how costs are being calculated and can engage in discussions about potential cost-saving measures or adjustments to the project scope. It fosters a collaborative environment where both the contractor and the client are aligned in their objectives, ultimately leading to better project outcomes and potentially minimizing disputes over costs.

Engaging in open book pricing contrasts sharply with traditional competitive bidding processes, where clients may only see the final bid amount without insight into the underlying costs. This distinction reinforces why transparency and collaboration is the key benefit of the open book pricing model.