What is the Percent Complete Method?

The Percent Complete Method, in the construction industry, is a project performance evaluation practice that assesses how much of the planned work has been accomplished. Accurately utilizing this method aids in understanding the project's progression, time frame, and potential issues related to cost and scheduling. Contractors calculate the percentage of the total construction work that has been completed at a given time, by either cost or activity basis. It is crucial to establish reliable standard measures to avoid skewing progress reports. This method provides an overview of the entire project, allowing insightful decision-making for project control. It helps to identify any inefficiencies, enabling necessary adjustments for successful project completion. It's imperative to note that cost, scheduling, and performance quality should be analyzed simultaneously for an accurate perspective since completing a project within budget does not guarantee the desired quality.