The WIP Schedule – Demystified
The Work-In-Progress (WIP) schedule for your construction project is a document of great importance – both to you and to your bonding agent. Many construction contractors don’t quite understand what the WIP schedule really offers, and thus lose credibility in the face of surety underwriters and bonding agents. WIP Schedules Calculate Client-Side Costs Accurately If…
How a WIP Schedule Is More Than Just a Schedule
Construction companies are in the best position to produce profits when carefully and efficiently organized. The key to effective organization is a detailed schedule, and the construction industry’s preferred scheduling format is the Work-In-Progress (WIP) schedule. This is because it offers more than a simple series of dates by which certain project milestones should be…
Using the WIP Report as a Critical Management Process
The work-in-process (WIP) report is a very important document for construction companies. This report can be used for financial and managerial planning. It provides detailed insight into core organizational processes and is one of the most valuable assessment tools available. By treating the WIP report as a critical management process, organizations can get valuable information…