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The document is a Schedule of Values and Preliminary Cost Estimate Form for the Property Exchange Dallas District project, detailing various construction tasks and their associated costs across multiple locations in Dallas, Kaufman, and Collin counties. It includes allowances for specific items such as landscaping, vehicle lifts, systems furniture, and radio towers, with a total estimated project cost to be calculated.

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What is included in a schedule of values?

A Schedule of Values (SOV) is a detailed schedule apportioning the original contract sum and all change orders, among all cost code divisions or portions of the work. The Schedule of Values shall be based on the approved budget or the approved Fixed Price, or GMP, Cost-Plus Contract type as applicable.

How do I fill out a schedule of values form?

General project information: Start with high-level information, such as the name of the project, project manager, etc. Work description: Detail the work that needs to be done to complete the project, including the start and end dates. Scheduled value: Add the cost for each activity listed above in the work description.

What is the schedule of values for 702?

The schedule of values is an agreement showing all of the work to be completed during the project, and the associated cost for each line item. The Continuation Sheet shows an itemized list of work youve completed during the period, along with the scheduled value or cost.

Who prepares the schedule of values?

(1) The Contractor shall prepare and submit for approval a cost breakdown of the Contract price, to be referred to as the schedule of values, assigning values to each major activity necessary to complete the work.

How to prepare a schedule of values?

To ensure that your SOV is as accurate as possible, consider the following steps. Step 1: Confirm the Contract Price. Step 2: Add Work Items. Step 3: Determine Each Items Value. Step 4: Update As Work Is Completed. Step 5: Review and Confirm Values. Step 6: Submit With the Application for Payment.

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What is the difference between cost loaded schedule and schedule of values?

The SOV provides a more detailed breakdown of task-specific information, emphasizing each tasks progress and financial aspects. The cost-loaded schedule includes the completion date against each work item, while the SOV highlights the percentage completion and provides more granular details about the task.

How to create a schedule of values?

What Should a Schedule of Values Include? Project name and number. Name of the prime or general contractor. Application number and date. Work item numbers. Description of work items. Total value of each item. Percentage of work completed. Value of work completed for past and current periods.

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What is included in a schedule of values?

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