A contractor’s work-in-process (WIP) schedule can be a window into current and projected job profitability, project cash flow, and backlog. The WIP provides a pulse of each project and a 360-degree view of the historical, current, and future states. And because of these characteristics, it’s imperative to maintain realistic, up-to-date information within the WIP.
This article covers the historical, current, and future job states, how they are important to WIP analysis, and how consistent communication about the WIP is valuable to your company. Download the full article below.
FORVIS is a proud principal partner of the Construction Financial Management Association (CFMA). This resource first appeared in its magazine, CFMA Building Profits, and was posted on forvis.com with permission. Our professionals at FORVIS are regular contributors to this publication.