Introduction "Work in progress" (WIP) is a term used across various industries to describe tasks, projects, or creations that are incomplete but actively being developed. Whether in art, construction, software development, manufacturing, or personal projects, WIP represents the dynamic state of ongoing effort. This concept is essential in project management, creative processes, and workflow optimization. This detailed exploration will cover: The Definition and Importance of Work in Progress WIP in Different Industries Challenges of Managing WIP Strategies for Effective WIP Management Psychological and Productivity Aspects Case Studies and Real-World Examples Future Trends in WIP Optimization 1. The Definition and Importance of Work in Progress Work in progress refers to any unfinished task or project that is currently being developed. It is a critical concept in: Project Management – Tracks ongoing tasks to ensure timely completion. Manufacturing – Partially completed goods awaiting final assembly. Creative Fields – Unfinished artworks, manuscripts, or designs. Software Development – Features or code in development but not yet deployed. Why WIP Matters: Helps in resource allocation. Prevents bottlenecks in production. Ensures continuous workflow without overburdening teams. 2. WIP in Different Industries A. Manufacturing & Construction Just-In-Time (JIT) Manufacturing – Minimizes WIP to reduce storage costs. Lean Manufacturing – Focuses on reducing excess WIP to improve efficiency. Construction Projects – Tracks ongoing builds (e.g., unfinished buildings, pending inspections). B. Software Development & Agile Methodologies Scrum & Kanban – Use WIP limits to prevent overload. Continuous Integration (CI) – Code in progress must be tested before merging. C. Creative Industries (Art, Writing, Film) Unfinished novels, half-painted canvases, or partially edited films. Iterative processes where revisions are constant. D. Personal Productivity & Self-Improvement Incomplete learning goals (e.g., learning a language). Half-finished home projects. 3. Challenges of Managing WIP Excessive WIP can lead to: Resource Strain – Too many tasks slow down overall progress. Quality Issues – Rushing to complete multiple tasks reduces attention to detail. Stress & Burnout – Unfinished work can demotivate teams. Financial Costs – In manufacturing, excess WIP ties up capital. 4. Strategies for Effective WIP Management A. Implementing WIP Limits (Kanban Method) Restricts the number of active tasks to improve focus. B. Prioritization Techniques Eisenhower Matrix – Focus on urgent & important tasks first. MoSCoW Method – Categorizes tasks as Must-have, Should-have, Could-have, Won’t-have. C. Agile & Scrum Practices Sprint planning to break work into manageable chunks. Daily stand-ups to track progress. D. Automation & Digital Tools Project management software (Trello, Asana, Jira). AI-driven task schedulers.

1. Details About Myself
Name : Nusrat Jahan Mim
Student ID : 20150112056
First Year, First Semester
Department of Accounting &
Information Systems
Faculty of Business Studies
Bangabandhu Sheikh Mujibur Rahman
Science & Technology University
Bangabandhu Sheikh Mujibur Rahman
Science & Technology Uniuversity

2. Welcome To
Work in Progess

3. Definition
Defense Working Capital Fund (DWCF) activities,
primarily those involved in depot maintenance or other
industrial-type operations, who routinely perform tasks
that take more than a month, record operating costs
within a work in process account so that costs may be
matched to revenue upon completion of the task. Work
In Process consists of the costs of the direct materials,
direct labor, direct purchased services, and indirect
costs, including general and administrative costs, used in
producing customized personal property whether
fabricated by the DoD or by a non-DoD organization
under contract.

4. Types Of Work in Progress
 Accounting for Work in Process:
 Work in Process - In-House
 Work in Process - Contractor
 Work in Process - Other Government Activities
 Work in Process - Government-Furnished
Material (Account 1584). "Work in Process:

5. BASIS FOR VALUATION OF WORK IN PROCESS
•
Work in Process - In-House shall be recorded at the actual cost of direct labor and direct
materials used in completion of job order and shall also include an allocation of indirect
expenses and general and administrative (G&A) expenses. “Work In Process -
Contractor“ and “Work In Process - Other Government Plants“ shall be valued at the
amount paid or payable to those entities based upon the unpaid amounts of requests for
progress payments, cost reimbursements, and other invoices received). Work In Process
- Government Furnished Material (GFM) shall be valued at the issued items’ standard
price and quantity. The GFM account shall be supported by records that identify
quantities of items and dollar amounts by contract number.

6. RELIEF OF WORK IN PROCESS:
• The direct costs and allocated indirect costs and G&A expenses
recorded in work in process accounts shall be transferred upon
completion or termination of the job to cost of goods sold or, if the
completed work is to be retained for use by the producing activity, to
an applicable asset or, if it does not meet the DOD capitalization
criteria, an expense account. (“Completion“ includes that portion of
work financially complete under the percentage of completion
revenue recognition policy.) The amount relieved shall be the costs
incurred that are associated with the revenue earned. The costs
incurred ordinarily will not be equal to the revenue earned. The costs
incurred may be more than, or less than the revenue earned
depending upon whether a loss or gain was taken on the work
performed.

7. THANK YOU
ALL!!!