Meaning of “work in progress” in the English Dictionary

"work in progress" in Business English

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work in progressnoun

uk us US also work in process

[ C or U ] something that is being developed or suggested but that is not yet complete:

The Senate Minority Leader described the team reorganization as "a work in progress".
be (still)/remain a work in progress Tougher regulations remain a work in progress and should be ready for consideration by the council in about two months.
The expansion and definition of a brand is always, to a certain extent, work in progress.

[ U ] ACCOUNTING the value of products that are only partly completed, or the value of these as shown in a company's accounts:

Errors in the trading statement related to an overvaluation of work in progress.

(Definition of “work in progress” from the Cambridge Business English Dictionary © Cambridge University Press)