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Track the progress of your construction project—and the disposition of your project budget—with a work in progress (WIP) report. By tracking the status of your project, you can identify any potential problems and correct them before they cause delays or cost overruns. You can also keep employees, subcontractors, and clients appraised of progress and reduce the chances of project reworks.
What Is a WIP Report in Construction?
A WIP report is a snapshot of the progress made on a construction project over a certain period of time. It includes information on the work completed, work in progress, and any issues or delays that have arisen.
When working with multiple employees or subcontractors, a WIP report becomes a valuable way to ensure that your project remains on track. In terms of budget, your WIP report may reveal that a project is either under-billed or over-billed. Either can be a problem.
- If under-billed, you may not have charged enough for the project. Cash is still flowing out, work still needs to be done, and materials have been purchased—but there are still additional expenses.
- If over-billed, your project may be falling behind. Your customer has already paid for services and materials that either have not yet been rendered or are not yet purchased.
While under-billing may sound worse, both under-billing and overbilling indicate critical issues with the project’s timing and flow.
Best Practices for Creating a Work in Progress Construction Report
As a construction company owner or manager, it’s likely that you’re stretched thin. And that means that a work in progress construction report is only as valuable as your time. By following reporting best practices, you can reduce the amount of time a WIP construction report takes—while also enhancing its accuracy and utility.
1. Establish a Regular Reporting Schedule
Establish a regular reporting schedule that is communicated to employees and clients. Clients won’t be asking you where their reports are and employees will know when they have to get their reports in.
2. Include Detailed Information About Subcontractors and Costs
To be most effective, a WIP report should include detailed information about the work completed, work in progress, and any potential problems or delays. This helps to flag issues early, before they become major disruptions.
With Workyard, employees can take snapshots of completed tasks and tasks in progress—providing both visual documentation of the site’s status and a trackable timeline. All tasks can be further tracked by cost code.
3. Use a Standard Format for All Your Reporting
Creating a WIP report in a standard format makes it easier to track progress and compare data over time. This further lets you quickly identify any trends or issues that need to be addressed. You can find WIP report templates online or download one here.
4. Track Both Costs and Resources
In addition to tracking progress, a WIP report should also capture information on costs and resources. This allows you to closely monitor overall project spending and make decisions about any changes that may be required.
Workyard helps produce accurate WIP reports by providing real-time employee labor data and mileage tracking. With Workyard, you’ll never have to guess how much time you’ve spent on a project so far.
5. Automate and Digitize Your Data Collection
Increase the accuracy of your progress tracking and cost estimation through automation and digitization. Data collection and data analysis tools won’t just improve the accuracy of your reporting—they’ll save you time and effort.
Look for tools designed specifically for construction projects and contractors. Rather than chasing down employees for their time cards or mileage reports, trust in an app like Workyard. Workyard’s GPS-powered app accurately tracks employee time on site, while also reporting travel time and mileage.
6. Keep Clients Looped In and Reimbursements Current
Keep clients updated on the progress of their project regularly—it’ll head off potential issues and reduce the chances of reworks. If clients are providing reimbursements for things like mileage, use an app like Workyard to track reimbursements and bill out regularly. It’s easier to get paid if you don’t blindside your clients with the bill.
By following the above best practices, you can create accurate work in progress construction reports without having to spend your day combing through data. Standardizing and digitizing the process, ensuring that your data is clear and accurate, and frequently reporting on project status will all protect your company’s deadlines and its costs.
The Most Common Issues With Work in Progress Reporting
There are several issues that can arise with work in progress reporting:
- Inaccurate data tracking
- A lack of communication between employees, subcontractors, and managers
- Budget or timeline overruns
Carefully track progress on the project using a real-time dashboard like Workyard. In Workyard, you can quickly review everything from project status to employee locations. If issues do occur, you can address them quickly.
By communicating scheduling and task priority more effectively to your employees and subcontractors, you can ensure that the job gets done on time—and identify employees or subcontractors who may not be performing up to the task.
Finally, by collecting the data that you need to accurately set budgets and timelines for your projects, you can effectively manage your costs as you go.
Why Are Work in Progress Reports Important?
Work in progress reports are important because they give you insights into how your project is going. This allows you to make informed decisions about how to move forward, whether a project may be experiencing a cost overrun, or whether certain subcontractors or employees are not performing adequately.
What’s Included in a WIP Report?
A WIP report should include information on the work completed, work in progress, and any issues or delays that have arisen. It is typically presented in a table or chart format and should include any budgetary issues, whether you are under-billed or over-billed.
How Often Should WIP Reports Be Created?
WIP reports should be created regularly, typically once a week or every two weeks. This allows you to track changes in progress over time, identify any potential issues or delays before they become serious, and make adjustments as needed.
Build Better Work in Progress Reports With Workyard
Workyard offers a simple and efficient way to track labor data, mileage, and tasks for your work in progress reports. With a single download, you can quickly and easily track your employee progress—and improve your project and budget reporting. Never miss a reimbursable expense or underbill for your labor again.
Learn more about how Workyard can help you streamline your work in progress construction reporting process. Check out a free trial today or call/text us at 650-332-8623.