Definition, Meaning & Synonyms

wpb

abbreviation

ˈdʌbljuː piː ˈbiː

Definition

WPB stands for ‘Work Progress Billing’, which is a method used in construction and project management to bill a client based on the progress of the work completed.

Examples

The contractor submitted a WPB to the client after completing the foundation work.
Using WPB helps manage cash flow throughout the duration of a long-term project.
Effective utilization of WPB can enhance client satisfaction by providing transparency on project costs.

Meaning

It refers to the invoicing process where payments are made for work completed at certain milestones rather than a single lump sum upon project completion.