In the latest episode of Construction Hot Takes - Deep Dives, our finance expert Greg Gorman takes a closer look into one of the most critical tools in construction financial management: the Work in Progress (WIP) statement.

If your company isn’t already using a WIP—or isn’t fully leveraging its potential—you could be leaving valuable insights (and money) on the table. A WIP statement provides an up-to-date snapshot of your projects, tracking progress, costs, and billing to help you make smarter decisions.

In this episode, Greg offers a step-by-step guide to building your own WIP statement, explains how to calculate key metrics like percent complete, and breaks down the crucial difference between Overbilling and Underbilling.

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