Sir, how to calculate work in progress?

Ashim kr Ray (social service) (1695 Points)

19 November 2016

Sir, How to calculate contractor's work in progress from Bank statement.

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178226 Points)
Replied 19 November 2016

Work in progress cannot be calculated based on Bank Statments, but can be just estimated.

Actually, architect or inspecting authority certifies the work completed, and based on that Work in progress is calculated.

Ashim kr Ray (social service) (1695 Points)
Replied 19 November 2016

Sir, which amount or how to analysis in bank statement to estimate the work in progress.Its is quite confusing.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178226 Points)
Replied 19 November 2016

For estimate: you can use simple method as follows:

Total Estimated project cost: say Rs.100.

Amount of Total materials to be used: say Rs. 80

Materials already used (as per payments from Bank statement): :say Rs. 60.

Thus estimated work in progress will be 75%

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