What is percentage of completion in SAP PS - Project System?

SAP Term: percentage of completion

• Component: PS

• Component Name: Project System

• Description: A figure showing the progress of a project in percentage terms. The percentage of completion shows the ratio of the activity performed up to a certain day to the total activity planned for a network activity or WBS element.

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• Key Concepts: 
  Percentage of completion is a method used in the Project System (PS) component of SAP to measure the progress of a project. It is calculated by dividing the total amount of work completed on a project by the total amount of work planned for the project. This percentage is then used to determine the amount of revenue that can be recognized for the project. 
  
  How to use it: 
  In order to use percentage of completion, users must first enter the planned costs and revenues for a project into SAP. This information is then used to calculate the percentage of completion for each phase of the project. As work progresses, users can update the percentage of completion in SAP to reflect the current status of the project. 
  
  Tips & Tricks: 
  It is important to ensure that all planned costs and revenues are entered into SAP accurately in order to get an accurate calculation of percentage of completion. Additionally, it is important to update the percentage of completion regularly in order to ensure that revenue recognition is accurate. 
  
  Related Information: 
  The Project System component of SAP also includes other features such as cost planning, resource planning, and budgeting. Additionally, there are other methods for measuring progress on projects such as earned value management and milestone tracking.