Progress Payment
Progress Payment is a common payment method in construction and contracting where payments are made in stages as work is completed, rather than all at once. Think of it like paying for a house being built in installments - as each major part is finished (foundation, walls, roof, etc.), a payment is made. This helps contractors manage their cash flow and ensures clients only pay for work that's actually been completed. You might also see this called "interim payments," "stage payments," or "milestone payments" in job descriptions and resumes.
Examples in Resumes
Managed Progress Payment schedules for $5M worth of commercial construction projects
Processed and approved Progress Payments and Stage Payments for 15 concurrent residential developments
Supervised Progress Payment documentation and compliance for government infrastructure projects
Typical job title: "Contract Administrators"
Also try searching for:
Where to Find Contract Administrators
Professional Associations
Job Boards
Professional Networks
Example Interview Questions
Senior Level Questions
Q: How do you handle disputes in progress payment applications?
Expected Answer: Should explain process of reviewing documentation, negotiating with stakeholders, and understanding contract terms to resolve payment disputes while maintaining professional relationships.
Q: What systems have you implemented to manage progress payments for multiple projects?
Expected Answer: Should discuss experience with payment tracking systems, documentation procedures, and how they've improved payment processes across multiple projects.
Mid Level Questions
Q: What documentation do you require for processing a progress payment?
Expected Answer: Should mention items like completion certificates, inspection reports, invoices, lien waivers, and how they verify work completion before payment approval.
Q: How do you ensure compliance with contract terms when processing progress payments?
Expected Answer: Should explain checking payment schedules against contract terms, verifying completion percentages, and ensuring all required documentation is in order.
Junior Level Questions
Q: What is a progress payment schedule?
Expected Answer: Should explain that it's a timeline showing when payments will be made based on construction milestones and how it helps in project planning.
Q: How do you calculate a progress payment amount?
Expected Answer: Should describe basic process of determining percentage of work completed and applying it to the total contract value, minus any retainage.
Experience Level Indicators
Junior (0-2 years)
- Basic payment documentation processing
- Understanding of payment schedules
- Simple progress report preparation
- Basic contract terminology
Mid (2-5 years)
- Payment application review and approval
- Contractor relationship management
- Documentation compliance verification
- Payment dispute resolution
Senior (5+ years)
- Complex payment schedule management
- Risk assessment and mitigation
- Policy development and implementation
- Multi-project payment coordination
Red Flags to Watch For
- No experience with construction documentation
- Lack of knowledge about lien laws and requirements
- Poor understanding of payment schedules and milestones
- No experience with construction contracts
