Work in progress (WIP)
What is Work in progress (WIP)?
Work that has been delivered or started but not yet invoiced to the client.
Unbilled WIP ties up cash. A closed-loop system shortens the gap between delivering work and getting paid for it.
Related terms
- Velocity (sprint estimation)The amount of work a team consistently delivers in a sprint, measured in story points or hours.
- Per-role ratePricing time at a different rate for each role (designer, developer, strategist) instead of a single blended figure.
- Opportunity costThe value of the work you couldn't take on because the team was busy with something else.
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