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The schedule of values (or SOV) offers a comprehensive breakdown of the various tasks or scopes associated with a construction project, along with their respective costs or values. When these individual amounts are summed up, they equate to the total contract value of the entire project.
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.
A schedule of values is a document used by stakeholders on construction projects that lists the value and cost of every billable work item on a step-by-step timeline, and the percentage of the work completed to date.
A schedule of values (SOV) is a document that outlines all the construction project tasks and the associated costs. Each major activity will have a dollar value associated with it and a percentage that indicates completion.
Our guide covers what a schedule of values is, when to use it and how it can help contractors better manage construction budgets and payment applications.
A schedule of values (SOV) is a key tool in construction that breaks the project cost into detailed, manageable parts. It can help you track work progress and payment schedules, which can in turn help you and your contractors stay aligned with the project budget and milestones.
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—or SOV—is a document that lists all work associated with a construction project, including the costs. Contractors use SOVs to help manage project budgets and accurately track performance.
Learn how to implement a Schedule of Values (SOV) in your construction project, a comprehensive record detailing billable tasks, their costs, and the status of completed work.
What is a Schedule of Values (SOV)? Definition and Explanation. A Schedule of Values (SOV) is a detailed, itemized document that breaks down the entire scope of work for a construction project into individual tasks or components, each assigned a specific cost.