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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.
A Allocation of costs is the transfer of costs from one cost item to one or more other cost items. Allowance - a value in an estimate to cover the cost of known but not yet fully defined work. As-sold estimate - the estimate which matches the agreed items and price for the project scope. B Basis of estimate (BOE) - a document which describes the scope basis, pricing basis, methods ...
The 16 Divisions of construction, as defined by the Construction Specifications Institute (CSI)'s MasterFormat, is the most widely used standard for organizing specifications and other written information for commercial and institutional building projects in the U.S. and Canada.
The value of work done (VOWD) is a project management technique for measuring and estimating the project cost at a point in time. It is mainly used in project environments of the Petroleum industry and is defined as the value of goods and services progressed, regardless of whether or not they have been paid for or received. The primary purpose ...
50 Divisions refers to the 50 divisions of construction information, as defined by the Construction Specifications Institute (CSI)'s MasterFormat beginning in 2004 ...
Second fix work requires a neater finish than first fix. The division of work is a convenient description because electricians, plumbers and carpenters will probably have to make two separate visits to one property under construction, at separate times. Project managers can report "first fix complete" or "second fix 50% done" and others can ...
A clerk of works or clerk of the works (CoW) is employed by an architect or a client on a construction site.The role is primarily to represent the interests of the client in regard to ensuring that the quality of both materials and workmanship are in accordance with the design information such as specification and engineering drawings, in addition to recognized quality standards.
The shop drawing should address the appearance, performance, and prescriptive descriptions in the specifications and construction drawings. [2] The shop drawing often is more detailed than the information shown in the construction documents to give the architect and engineer the opportunity to review the fabricator’s version of the product ...