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2. Work in process - Wikipedia

   en.wikipedia.org/wiki/Work_in_process

   Work in process or work-in-process, (WIP), work in progress (WIP), goods in process, or in-process inventory refers to a company's partially finished goods waiting for completion and eventual sale, or the value of these items.

3. Statement of work - Wikipedia

   en.wikipedia.org/wiki/Statement_of_work

   A statement of work ( SOW) is a document routinely employed in the field of project management. It is the narrative description of a project's work requirement. [1] : 426 It defines project-specific activities, deliverables and timelines for a vendor providing services to the client. The SOW typically also includes detailed requirements and ...

4. Work breakdown structure - Wikipedia

   en.wikipedia.org/wiki/Work_breakdown_structure

   The work breakdown structure provides a common framework for the natural development of the overall planning and control of a contract and is the basis for dividing work into definable increments from which the statement of work can be developed and technical, schedule, cost, and labor hour reporting can be established.

5. Completed-contract method - Wikipedia

   en.wikipedia.org/wiki/Completed-contract_method

   Completed-contract method. The Completed-contract method is an accounting method of work-in-progress evaluation, for recording long-term contracts. GAAP allows another method of revenue recognition for long-term construction contracts, the percentage-of-completion method. With this method, revenue is recognized when the contract is fulfilled.

6. Percentage-of-completion method - Wikipedia

   en.wikipedia.org/wiki/Percentage-of-Completion...

   The accounting for long term contracts using the percentage of completion method is an exception to the basic realization principle. This method is used wherein the revenues are determined based on the costs incurred so far. The percentage of completion method is used when: Measure progress toward completion.

7. Performance-based contracting - Wikipedia

   en.wikipedia.org/wiki/Performance-based_contracting

   Performance based contracting ( PBC ), also known as performance-based logistics ( PBL) or performance-based acquisition, is a product and services purchasing strategy used to achieve measurable supplier performance. A PBC approach focuses on developing strategic performance metrics and directly relating contracting payment to performance ...