A work package recipe is a pre-defined set of work steps. The entire set of work steps can be applied in a single operation to any work package.
The image below shows a work package recipe with 5 work steps.
When using Smart Build Insight, you can apply a percentage progress (as % complete) to each weighted work step. Note that if a work package has no work step, you can apply the progress to the work package itself. Using the % complete and the weightages, the progress is rolled up the schedule hierarchy (Work Step > Work Package > WBS > Project), all the way up to the Project % complete on the dashboard.