BaseBuilders Knowledge Base
Calculations - how we arrive at your numbers
Let's answer the question, how is work in progress or WIP calculated.
We subtract the amount of fees billed from your earned value.
Earned Value - Fees Billed = WIP
Both the Earned Value and Fees Billed are using gross values, not net. So the WIP will include sub-consultant values.
Here is a video showing this used on a project: Watch Now
Related Articles
What is Earned Value?
Earned Value is a term used in the AE industry to indicate how much fee has been earned based upon work completed.
Earned Value Calculation
Let's answer the question, how is earned value calculated.
Earned Values and WIP Calculations
Earned Values represent how much fee you have earned, Work In Progress is how much of that fee is ready to be billed.
