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Dec 27, 2023 · by Peter Landau | Dec 27, 2023. Creating a schedule of values is important for the project owner, contractor and subcontractors alike. It can be used to communicate what’s needed in the project, the costs associated with the activities and the management of payments.
Download our free schedule of values template for Excel to help guide the financial management and process of your construction project. What Is a Schedule of Values? A schedule of values is an itemized list of the activities that are necessary to complete a construction project.
Oct 24, 2022 · October 24, 2022. Definition: A project schedule of values (SOV) is a project document listing the price of work items and the amount of completed work. It describes the complete contract value and cost progressions for project stages to stakeholders for payment processing.
Jan 31, 2022 · In this guide, we’ll walk through the process of filling out and submitting an SOV, explain how it’s used and provide a downloadable schedule of values template that you can reference for future projects. Table of Contents. Why Is an SOV Important? When To Use an SOV; What Should a Schedule of Values Include? Downloadable Schedule of Values ...
Jul 11, 2022 · A schedule of values in construction (SOV) is a breakdown of every billable task on a project, providing an overview of the budget, a detailed timeline, and percentage of work completed for the entire job.
A schedule of values is a start-to-finish list of work items on a project (broken down into their component parts and with corresponding values) that, in total, represent the entire project from beginning to end and the entire contract price.
A schedule of values (SOV) is a comprehensive document listing the cost of each work item and the amount of work completed for a construction project.
