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How Do You Calculate Percent Complete in a Project?

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Is your project able to achieve the desired results up to your expectations? Or how can you tell whether the project is already halfway complete? You might need to calculate the percent complete. It might sound familiar to most project managers since it is an essential part of capacity planning and resource management. The good news is that calculating percent using outdated methods is now being replaced by special tools. That’s right, companies nowadays rely on comprehensive resource management software to calculate percent complete, plan resources, and forecast project estimates.

Before we dig into the capabilities of this software, let’s learn in detail about calculating the project completion percentage.

What is Project Percent (%) Complete?

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A project completion percentage is calculated by dividing the total duration of a project by the number of jobs performed so far. It allows you to track how far your team has completed their assignments/tasks for a particular project. In simpler terms, it shows how much work has been completed and how much work remains to be completed. It is also known as the project completion percentage %. This gives project managers the information they need to determine whether their team is on track with the project timeline. 

Importance of Calculating the Percent Complete in resource management

So, why do we need to calculate the percent complete first? Well, knowing the percentage of completion is significant for a variety of reasons, such as:

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  • Streamlines project management: It supports the task management plan, a procedure for monitoring your team’s work from beginning to end. Knowing how much work the team has completed at any particular point in the project allows project managers to determine whether or not the work is on track.
  • Track real-time progress: As a manager, you can easily track progress by percent complete. Percent complete is also the core of a capacity planning tool, dedicated software to track the team’s progress in fulfilling their tasks. Many of these applications provide real-time data, allowing for a more accurate rendering of the percentage complete.
  • Better resource allocation: Apparently, the percentage of work completed is linked to effective resource management. Knowing whether the team is behind or ahead of schedule affects how you allocate resources. For example, if the percent complete shows that tasks are falling behind schedule, the project manager might reallocate resources to get the project back on track!
  • Helps in capacity planning: Capacity planning determines how many resources are required to meet changing demand. As a result, if the current % complete is not satisfactory with the available resources, you may deploy extra resources to compensate for the delay or gap.

Calculating the percent complete in a project

Percent Complete is a time-based metric, calculated using the formula:

Percent Complete=Actual Duration/Duration (PC=AD/D)

Let us use the old-age practice by assuming examples to comprehend better.

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Example 1: If a task has a five-day duration and two and a half days have been completed (two and a half days of the actual period), the Percent Complete will be 50% since 2.5/5 =.50.

Example 2: If your project has 25 tasks and your team has finished 12, divide 12 by 25 to calculate the completion %. 

Typical corporate reporting methods such as spreadsheets, charts, or modern capacity planning tools are used to calculate these metrics.

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How can resource management software help?

Although spreadsheets and charts have been used in the past, they are only partially accurate. No wonder 52% of project managers and resources are somewhat or very dissatisfied with their organization’s current level of project management maturity. Thus, it’s high time to switch to resource management software. It features sophisticated Gantt charts that automatically determine the percent complete for each task. Because it works with internet connectivity, the % complete is displayed in real-time. Hence, you’ll have real-time updates about the current data, not a previous project snapshot! Sounds so smooth, isn’t it?

In addition, you may track the % complete once you have generated a project plan on our Gantt and set the baseline. This captures the schedule, prices, and more, so you may get the variance of your actual effort against your intended action. This data is supplied in real time across the software to help you stay on track with your project.

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Meet the all-in-one capacity planning tool

Overall, we know how percent complete plays a vital role in resource management. From tracking project progress to effective capacity planning, you can use these metrics to make better decisions. That’s why the eResource Scheduler has covered you with its all-in-one solutions. 

It is the ultimate resource management software with robust tools like Gantt sheets, timesheets, financial insights, and management reports. It automatically calculates the percent complete and keeps an eye on other essential project tasks. Say goodbye to outdated and inaccurate project tracking methods and switch to a smart capacity planning tool. Need a hand with your next major project? Get your hands on eResource Scheduler today.

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Heana Sharma: A rising talent, Heana boasts 2 years of versatile content writing experience across multiple niches. Her adaptable skills result in engaging and informative content that resonates with a wide spectrum of readers.

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