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Construction Glossary · Earned Value

PercentComplete

The one number the entire method leans on, and the one most open to optimism. How you measure it decides whether earned value tells the truth or flatters it.

Definition

Percent complete is the fraction of a work package that is finished. Multiplied by the package budget, it gives earned value, so it is the single number the whole earned-value method rests on. Because it often depends on judgment, how it is measured, by units, milestones, or a fixed rule, matters as much as the number itself.

It is the input earned value multiplies

Earned value is percent complete times the budget. Everything downstream, cost variance, schedule variance, the indices, the forecast, inherits whatever error lives in that one figure.

EV = percent complete × budget

Report 80% on work that is really 60% and you have handed every index a 20-point lie. That is why the method you choose to measure it with is not a formality.

One package, four readings

Take a single $1.0M formwork package partway through. Each measurement method reports a different percent complete, and so a different earned value, for the exact same work on the ground. The full set of methods is in the table below.

Units done60%50/50 rule50%Cost ratio70%Supervisor65%Same $1.0M package → earned value from $500K to $700K

The measurement methods

MethodHow it worksReliabilityExample reads
Units completedCountable, repeated items (fixtures, bays, piles)Most objective60%
Weighted milestoneFixed % assigned to each milestone, agreed up frontObjective65%
50 / 50 (or 0 / 100)Fixed rule: half at start, half at finishObjective, coarse50%
Cost ratioActual cost ÷ estimated total costCircular — use with care70%
Supervisor opinionA judgment call at period endLeast reliable65%

How POD sources percent complete

POD reads progress from the pay applications and line-level confirmations a project already produces, rather than asking for a fresh month-end estimate, so the percent complete that feeds earned value traces back to billed, confirmed work. Keeping the measurement tied to the documents of record is what keeps the earned value, and every index built on it, grounded.

Percentage-of-completion guide

Frequently asked questions

Where the whole method begins

Get percent complete honest and every earned-value number downstream can be trusted. Start at the top with how it all fits together.

Last updated: October 2026