What is project progress measurement based on percentage of completion in SAP SRD-FIN-COR - FIN-Cost and Revenue?

SAP Term: project progress measurement based on percentage of completion

• Component: SRD-FIN-COR

• Component Name: FIN-Cost and Revenue

• Description: A method of measuring the progress of a project toward completion based on the percentage of the planned work completed. This is one of the possible methods used in progress-based revenue recognition.

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• Key Concepts: 
  Project progress measurement based on percentage of completion is a method used in SAP to measure the progress of a project. This method is used in the SRD-FIN-COR FIN-Cost and Revenue Accounting component of SAP. It involves measuring the progress of a project by assigning a percentage to each task or milestone that has been completed. This percentage is then used to calculate the overall progress of the project. 
  
  How to use it: 
  In order to use this method, each task or milestone must be assigned a percentage that reflects its completion. This percentage can be determined by taking into account the amount of work that has been completed, the amount of time that has been spent on the task, and any other factors that may affect the completion of the task. Once all tasks have been assigned a percentage, these percentages can be added together to calculate the overall progress of the project. 
  
  Tips & Tricks: 
  When assigning percentages to tasks, it is important to be as accurate as possible in order to get an accurate representation of the project’s progress. Additionally, it is important to keep track of any changes that may occur during the course of the project, as these changes may affect the overall progress measurement. 
  
  Related Information: 
  This method is often used in conjunction with other methods such as earned value management (EVM) and critical path analysis (CPA). Additionally, this method can be used in combination with other SAP components such as SRD-FIN-COR Financial Accounting and SRD-FIN-COR Controlling.