You own a have a pool construction company and you were asked to install a pool and a screen room. You travel to the customer’s house and survey the area where the pool will be installed and you determine the only additional work needed besides installing the pool, will be to remove existing irrigation. The duration of the job will take about 4 weeks and you quoted the customer $49, 964.00. As a contractor, you estimated that it will cost you $38, 598.00 to complete the job. Now you are two weeks into the job and have spent approximately $36,580.00 to date. What is your percentage of completion for this job at this point in time according to the figure provided?
In order to find percentage of completion you will divide the cost-to-date by the cost to completion of the project. So, $36,580/$49,964.00=0.7321 or 73% complete.