Glossary

Billed vs complete percent

Billed versus complete percent compares how much a trade has billed to how much work is actually in place. A wide gap can mean overbilling, under-reporting progress, or both.

Worked example

On a hypothetical hotel, a drywall sub has billed 45% of the contract while field complete looks closer to 28%. That gap is worth a same-week review before the next pay application.

Related terms

• Committed cost
• Cost variance
• RFI aging

Keep reading: What a weekly status meeting misses.