Schedule of Values in Construction Explained | Procore A schedule of values (SOV) is an itemized list of each activity required to complete the scope of work on a construction project, along with the corresponding costs or values
Schedule of Values in Construction (Example Template Included) The schedule of values (SOV) is a construction document that’s part of the payment process when working on a project It helps with project management by listing the project’s scope and the costs associated with those task needed to deliver the project successfully
Schedule of Values: How to Build, Use, and Avoid Common Errors The SOV is common in commercial and institutional construction, especially where payments are made in stages It ensures billing aligns with actual work performed, not estimates Most SOVs are built from the project budget or subcontractor quotes for accuracy
Understanding Schedule of Values (SOV) in Construction An SOV provides a clear and agreed-upon reference for what work has been completed and what is yet to be done This clarity helps in resolving disputes and ensuring that all parties have a mutual understanding of payment terms and conditions, reducing the risk of conflicts
SOV Construction: What Is Schedule of Values | Buildertrend Don’t let that stop you from completing a schedule of values (SOV) on all of your construction projects An SOV plays a pivotal role in construction financial management It serves as a detailed financial roadmap, breaking down your project’s total cost into bite-sized pieces
What Is the Schedule of Values (SOV) in Construction: Complete Guide The Schedule of Values (SOV) is a breakdown of the total contract price into line items that represent different portions of work on a project It’s used to support progress billing by showing how much each part of the job is worth, how much has been completed, and what’s being billed
The Ultimate Guide to Schedule of Values in Construction A Schedule of Values (SOV) in construction ensures accurate budgeting, smooth payments, and cost control Learn its key components, best practices, and how to avoid costly mistakes