Not Quite Finished
My carpenter partner likes to say, “A House is a work in progress”. I agree. Just because you have a yellow kitchen this year doesn’t mean that you can’t decide to paint it purple next year. Work In Progress, or WIP is frequently used in law firms to designate things that are not yet to the point where we ask a client to pay for them. Thinking about WIP and executing your work to the valued level when you are acting on client files is good business.
Beware of holding things as WIP for non-billable work. Items like checklists, documents …