Work in progress: Difference between revisions

Revision as of 21:06, 26 April 2023

Work in progress (WIP), also known as work in process, is a term used to describe projects, tasks, or initiatives that are currently being carried out but have not yet reached completion. When a task or project is initiated without being finished, resources are expended, but the value generated from its completion cannot be fully realized. As a general rule, it is advisable to minimize work in progress in order to optimize resource allocation and productivity.

A fitting analogy for work in progress can be found in a store's inventory management. Retailers often purchase products from manufacturers to maintain stock, ensuring they can quickly meet customer demand. However, during the period between acquiring the products and selling them to customers, the store incurs costs for holding the inventory without gaining any value from it. This situation highlights the importance of carefully managing work in progress to minimize costs and maximize efficiency.

Here are some examples that illustrate work in progress in various contexts:

Writing a book: An author may have invested a significant amount of time and effort into writing a book that is only half completed. Until the book is finished, readers cannot enjoy it, and the author cannot generate income from its sales. This incomplete work represents a work in progress.
Construction projects: A building that is partially constructed may have already required substantial resources in terms of time, effort, and materials from engineers, architects, and construction workers. However, until the building is fully completed, it cannot be inhabited or utilized for its intended purpose. The ongoing construction is considered a work in progress.
Software development: A software company may be in the process of creating a new application or updating an existing one. The development team could be working on adding new features, fixing bugs, or enhancing the user interface. The project remains a work in progress until the software is released or the update is launched, and only then can the company benefit from the improvements made.

@@ Line 1: / Line 1: @@
-Work in progress (or WIP, work in process) refers to projects, tasks, or initiatives that are currently underway but not yet completed. By starting a task or project without finishing it yet, some resources have been spent on it but little or none of the value that is generated by completing the task can be enjoyed yet. Therefore as a general rule WIP should be minimised.
+Work in progress (WIP), also known as work in process, is a term used to describe projects, tasks, or initiatives that are currently being carried out but have not yet reached completion. When a task or project is initiated without being finished, resources are expended, but the value generated from its completion cannot be fully realized. As a general rule, it is advisable to minimize work in progress in order to optimize resource allocation and productivity.
-A good analogy is a store's inventory. A store will often have to buy some products from a manufacturer to keep in stock so they are ready to sell immediately when a customer requests it. However, in the time between buying the product from the manufacturer and selling it to the customer, the store has paid for the inventory but not yet gained any value from it.
+A fitting analogy for work in progress can be found in a store's inventory management. Retailers often purchase products from manufacturers to maintain stock, ensuring they can quickly meet customer demand. However, during the period between acquiring the products and selling them to customers, the store incurs costs for holding the inventory without gaining any value from it. This situation highlights the importance of carefully managing work in progress to minimize costs and maximize efficiency.
-Examples:
+Here are some examples that illustrate work in progress in various contexts:
-* An author may have spent a substantial amount of time writing a book that is still only half finished. No readers will be able to read the book yet. The book will not generate income.
+# Writing a book: An author may have invested a significant amount of time and effort into writing a book that is only half completed. Until the book is finished, readers cannot enjoy it, and the author cannot generate income from its sales. This incomplete work represents a work in progress.
-* A partially constructed building may already have taken significant time and effort from engineers and construction workers, but it can't yet be lived in or used otherwise.
+# Construction projects: A building that is partially constructed may have already required substantial resources in terms of time, effort, and materials from engineers, architects, and construction workers. However, until the building is fully completed, it cannot be inhabited or utilized for its intended purpose. The ongoing construction is considered a work in progress.
-* A software company may be developing a new app or updating an existing one. During the development process, they may be working on new features, fixing bugs, or improving the user interface. Until the software is released or the update is launched, the project is considered work in progress.
+# Software development: A software company may be in the process of creating a new application or updating an existing one. The development team could be working on adding new features, fixing bugs, or enhancing the user interface. The project remains a work in progress until the software is released or the update is launched, and only then can the company benefit from the improvements made.