Physical completion

Physical completion

The state in which a project is physically functioning, but not yet fully generating cash flow.

Physical Completion

The time at which a project has been finished and functions, but is not yet generating revenue. Physical completion applies especially to construction and other infrastructure projects. For example, an oil company may build a series of oil pumps. The time of physical completion occurs when the oil pumps are completed and are working, but have not yet pumped any oil. Another example is a new apartment building that is ready for tenants, but in which no apartments have yet been rented.
References in periodicals archive ?
As per the report submitted by the project director on December 26, 2017, physical completion of phase one is only 30%, while the financial progress stands at 27%.
404billion with the project having achieved 80 per cent physical completion.
As per the revised PC-1 2015, the total project cost is estimated at Rs 404 billion with the project having achieved 80% physical completion around three fourth of the total cost is being funded through debt while the remaining portion will be funded through equity.
Projects using the special dispensation shall have to achieve physical completion in the next three years.
While the physical completion of the building was completed at the end of May, Irvine Sellar, the founder and CEO of developer Sellar - Qatar's partner in the project - told Building.
So for the FMC expansion project, when we were still a year away from mechanical completion, we wanted to take advantage of that experience and focus on training of the entire team to ensure that the baton wasn't dropped between the physical completion of the project and the start up of the manufacturing environment," says Skibo.
Mr Kinsella added: "This wonderful facility has remained empty since physical completion in March, 2009.
The projects range from consulting to actual physical completion of projects and to marketing/disposition.
45 billion facility arranged in 2005 to finance physical completion of the Dolphin gas project.
The contractor plans to finish the physical completion portion of the cleanup at Rocky Flats in late October 2005.
Aside from periodic verbal briefings, senior management did not receive regular financial status reports, and there were no formal reports on the physical completion status of the project.

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