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What is purpose of partial project completion

Userlevel 5

+9

Hi,

what is the purpose by using “partial project completion”?

For example , see below in green”, project completion at 70%.

The partial completion needs too a posting control “GP18”, what is the point too?

Thanks a lot

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Best answer by Thomas Peterson 20 December 2021, 17:01

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Userlevel 7

+18

Hi,

Partial project completion may be use for many different reasons.

For example assume a project is used to create N fixed assets and these assets are placed in service periodically during the project.

Another example could be that the client wants to recognize a portion of the revenue / cost leaving the project open for other activities.

Another example could be that a project is mostly completed, but it remains open for additional work such as final inspections, and warranty work.

Partial completion can be done for many reason, the above are just a few that come up frequently.

Best regards,

Thomas

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