diff --git a/conformance/build_finished.json b/conformance/build_finished.json
index 1e19bea..19802ef 100644
--- a/conformance/build_finished.json
+++ b/conformance/build_finished.json
@@ -4,7 +4,7 @@
     "id": "271069a8-fc18-44f1-b38f-9d70a1695819",
     "chainId": "4c8cb7dd-3448-41de-8768-eec704e2829b",
     "source": "/event/source/123",
-    "type": "dev.cdevents.build.finished.0.3.0",
+    "type": "dev.cdevents.build.finished.0.4.0-draft",
     "timestamp": "2023-03-20T14:27:05.315384Z",
     "schemaUri": "https://myorg.com/schema/custom",
     "links": [
@@ -43,7 +43,8 @@
     "id": "mySubject123",
     "source": "/event/source/123",
     "content": {
-      "artifactId": "pkg:oci/myapp@sha256%3A0b31b1c02ff458ad9b7b81cbdf8f028bd54699fa151f221d1e8de6817db93427"
+      "artifactId": "pkg:oci/myapp@sha256%3A0b31b1c02ff458ad9b7b81cbdf8f028bd54699fa151f221d1e8de6817db93427",
+      "outcome": "success"
     }
   }
 }
diff --git a/continuous-integration.md b/continuous-integration.md
index c1c9970..b168b73 100644
--- a/continuous-integration.md
+++ b/continuous-integration.md
@@ -78,9 +78,9 @@ This event represents a Build task that has been started; this build process usu
 
 ### [`build finished`](conformance/build_finished.json)
 
-This event represents a Build task that has finished. This event will eventually contain the finished status, success, error or failure
+A Build task has finished, successfully or not.
 
-- Event Type: __`dev.cdevents.build.finished.0.3.0`__
+- Event Type: __`dev.cdevents.build.finished.0.4.0-draft`__
 - Predicate: finished
 - Subject: [`build`](#build)
 
@@ -89,6 +89,8 @@ This event represents a Build task that has finished. This event will eventually
 | id    | `String` | See [id](spec.md#id-subject)| `1234`, `maven123`, `builds/taskrun123` | ✅ |
 | source | `URI-Reference` | See [source](spec.md#source-subject) | | |
 | artifactId | `Purl` | Identifier of the artifact produced by the build | `pkg:oci/myapp@sha256%3A0b31b1c02ff458ad9b7b81cbdf8f028bd54699fa151f221d1e8de6817db93427`, `pkg:golang/mygit.com/myorg/myapp@234fd47e07d1004f0aed9c` | `build` | |
+| outcome | `String (enum)` | outcome of a finished `build` | `success`, `failure`, `cancel`, or `error` | `success`, `failure`, `cancel`, `error` |
+| errors | `String` | In case of error, canceled, or failed build, provides details about the failure | `Invalid input param 123`, `Timeout during execution`, `build canceled by user`, `Compilation failed`| |
 
 ### [`artifact packaged`](conformance/artifact_packaged.json)
 
diff --git a/schemas/buildfinished.json b/schemas/buildfinished.json
index 3dfcf5e..caacba9 100644
--- a/schemas/buildfinished.json
+++ b/schemas/buildfinished.json
@@ -20,9 +20,9 @@
         "type": {
           "type": "string",
           "enum": [
-            "dev.cdevents.build.finished.0.3.0"
+            "dev.cdevents.build.finished.0.4.0-draft"
           ],
-          "default": "dev.cdevents.build.finished.0.3.0"
+          "default": "dev.cdevents.build.finished.0.4.0-draft"
         },
         "timestamp": {
           "type": "string",
@@ -66,6 +66,18 @@
           "properties": {
             "artifactId": {
               "type": "string"
+            },
+            "outcome": {
+              "type": "string",
+              "enum": [
+                "success",
+                "failure",
+                "cancel",
+                "error"
+              ]
+            },
+            "errors": {
+              "type": "string"
             }
           },
           "additionalProperties": false,