Work-in-Progress vs. Work-in-Process vs. Finished Goods
Basis |
Work-in-Progress |
Work-in-Process |
Finished Goods |
---|---|---|---|
Definition |
Denotes the work processes or tasks that are being actively attended to but not yet fully completed. |
Consists of the various stages of projects or tasks, both finished and still going on, showing the whole process from the beginning to the completion. |
Which is the main result of undertaken projects or work because it undergoes all the required phases and is ready for either distribution, utilization, or presentation? |
Status |
While being more complete and consistent, it improves, but doesn’t always simplify, complex scientific discoveries and concepts. |
Consists of the unfinished and the on-process features, where you can see the whole work in progress rather than drafting it separately on behalf of others. |
Moreover, this program is not ongoing for upgrading or modification. |
Focus |
Emphasize the working phases of a project and demonstrate critical measures necessary for its completion. |
suggests the process of development by demonstrating both the done and ongoing parts of it. |
An eye-opening feature that dramatically showcases the meticulous, completed state of a project or product. |
Potential Changes |
Certainly to go through the changes and surprise along the way. |
The commitments are still going to undergo certain components of alteration, but within the timetable mentioned, most of these have already been settled. |
Usually, this product is considered a milestone, with no further manipulations needed to complete the production process. |
Purpose |
An insightful look into the current stage of a project, capturing the essential aspects of the review, feedback, togetherness, and amendments before it ends the project. |
Provides a whole-cycle lifecycle view, helping with project management and ensuring there is some accountability everywhere throughout the process. |
Finally, it becomes the performance or output that comes as a result of the creative or production process, perfectly formulated and available for people to use or a market to buy. |