What is the value of work?
The value of the work (Vowd) is a business term that refers to several different metrics based on the type of business. In the project management, the value of the work concerned concerns the value of all services and goods provided and helps to check the project costs. In engineering and construction concerns the percentage of work completed on the project. In businesses dealing with mass materials, Vowd refers to the amount of material supplied in the workplace. For acquired equipment, mostly heavy equipment, this concerns the percentage of the weight that has been delivered. For example, if the company receives an amount of $ 100 (USD) items and a shipping service for these items is another $ 20, total Vowd is $ 120. This is used, even if the company has not yet paid services and the company has a NOT yet received an invoice. This metric helps project managers to manage project costs.
In the construction, the value of pEqual work concerns the total amount of progress towards the completion of the project. This metric is not measured in total working hours, but in a percentage of work. For example, if two tasks have been completed, each of which is 6 percent of the total project, then VowD is 12 percent. When Vowd reaches 100, then the project is completed.
huge materials are accepted by many companies and are used to process or create other products. If the project is introduced that requires many different volumes, the value of the work is the total percentage of materials received for the whole project until all items are obtained. If 10 percent of the materials were delivered at the workplace or production plant, then Vowd is 10 percent.
Entering heavy devices is similar to volumetric materials that the importance of the value of the work, with the exception of the percentage, refers to the overall weight of all devices, not the amount of equipment present. For example, if 20 items are neededAnd one item is delivered, VowD does not necessarily have to be 5 percent, as if it were for bulk materials. If the weight of this item represents 35 percent of the total weight, then the Vowd is 35.