Sample Schedule of Values free printable template

SAMPLE SCHEDULE OF VALUES PSU PROJECT NAME CONTRACTOR APPLICATION NO. APPLICATION DATE PERIOD TO APPLICATION CERTIFICATE FOR PAYMENT A B C D E WORK COMPLETED ITEM NO. DESCRIPTION OF WORK F G STORED TOTAL PREVIOUS MATERIALS SCHEDULED APPLICATIONS NOT IN VALUE D E D OR E THIS PERIOD STORED TO DATE D E F H I BALANCE TO FINISH C - G RETAINAGE 1. 00 General Conditions 1. 01 Project Management 1. 02 General Superintendent 1. 03 Superintendents 1. 04 Safety Engineer 1. 05 Scheduling 1. 06 Field...

How to fill out schedule of values g702

How to fill out Sample Schedule of Values

1. Step 1: Begin with the title 'Schedule of Values' at the top of the document.
2. Step 2: Include a list of all work items or tasks involved in the project, categorized appropriately.
3. Step 3: Assign a unique identifier for each line item in the schedule for easier reference.
4. Step 4: For each work item, provide a detailed description that clearly explains what is included.
5. Step 5: Estimate the total cost for each work item and include it in the corresponding column.
6. Step 6: Specify the percentage of completion for each item, reflecting the progress of those tasks.
7. Step 7: Ensure the total of all values sums up to the overall contract amount.
8. Step 8: Review the Schedule of Values for accuracy before submission.

Who needs Sample Schedule of Values?

1. Project managers need the Sample Schedule of Values for budgeting and managing project costs.
2. Contractors use the Sample Schedule of Values to communicate progress to clients and justify progress payments.
3. Subcontractors may need it to itemize their work for billing purposes.
4. Accountants and financial personnel require it for financial tracking and reporting.

Instructions and Help about schedule of values g702

Good day and welcome to HVAC 350 this will be a short lecture on a schedule of values assignment which I've made as a bonus assignment it will not count against you in the class if you do it'll be extra credit points for the class itself what I'd like to do is just talk about the schedule of values real quick again a schedule values its purpose is to justify monetarily what we're trying to build for on a project it also pulls it will resemble it could resemble the actual schedule of the project it doesn't have to, but really this is set up so by CSI specification section we have some type of labor materials assigned to it now if we look at this sample one that I'm asking you to do these items right here are all going to be subcontractors if I were to come in and look at this project here you can see that's for example we have a hydroponic heating subcontractor marked up at twenty-seven thousand five hundred and twenty-two dollars so what I would want to do if we look at the hydroponic system here it's 45% material which would be fifty-five percent labor for that part of the project so if I were to go ahead and put this in here again the number the total number for it is going to be twenty where do they put ten twenty-seven thousand five hundred twenty-two dollars and when I put that number in there I have to break out the labor and materials portion of it so if I were to take 45% for the materials portion it would end up being twelve thousand and three eighty-four ninety and for the labor portion would be fifteen thousand one thirty-seven ten and what that would do is again this is the marked up price that's going to be on our estimate and what we want to do is just fill that there were numbers and as we go along now one of the things in the lecture that I gave you on the schedule of values is we have to put in a mobilization fee I would put in five percent of the contract amount the contract amount from the Excel spreadsheet that I gave you was nine fifty-eight one eighty-eight nine hundred fifty-eight thousand one eighty-eight, so I put five percent of that there I don't believe there was a performance pans about go to zero there's project management and coordination that's in the project in one of the sheets you want to put in again that would be a marked up price, so it'd be the number that we might have in this sheet here and if I were to find that see it might be right here you can see project management numbers here you can see the dollar amounts that they are this here is a certain cost for it, you'll be when you look at the recap sheet the project management is just part of this sheet here and these are cost numbers off of those sheets for materials and labor so what I would ask you to do is to go ahead as you do this and when you use any of the sheets that are in here and again like this information here I would go ahead, and I would make sure you mark that up whatever the overhead percentage is for the project which I believe was...

What is schedule values form?

The schedule of values (SOV) is one of those documents that touches everyone from the project manager to the accountant. At its most simple, a schedule of values is a start-to-finish list of work items on a project that represent the entire project from beginning to end and the entire contract price.

People Also Ask about

How do you create a schedule of values?

However, the general format to expect will include columns with the following details: The description of each item of work. The total cost for each item. What you've been paid to date on the work, from prior billing periods. The percentage of the work that's been completed. Your costs for the current billing period.

How do I submit a schedule of values?

How To Fill Out and Submit an SOV Step 1: Confirm the Contract Price. Step 2: Add Work Items. Step 3: Determine Each Item's Value. Step 4: Update As Work Is Completed. Step 5: Review and Confirm Values. Step 6: Submit With the Application for Payment.

Who creates a schedule of values?

Prior to beginning a construction project, the prime general contractor or sometimes a second-tier subcontractor (who's hired directly by the general contractor) creates the Schedule of Values by assigning a dollar amount to every item of work they need to do, and in what phase of the project, in order to get the job

How do I create a schedule of values in Excel?

How do you fill a schedule of values? The item's number. Enter details of work. Enter the values. Fill in the details of work completed. Next, fill in the values of the current phase that is starting or ongoing. Stored materials for non-completed work. Fill in the total value of material stored for completed work.

What is included in the schedule of values?

A Schedule of Values, or SOV, is a list of every work item on a project, along with each item's value or cost. This comprehensive work list represents the entire construction project and the entire contract price, from beginning to end.

Who provides a schedule of values?

The contractor must prepare the schedule of values in the form, and supported by the data to substantiate its accuracy, required by the architect. A schedule of values is used as a basis for reviewing the Contractor's monthly payment applications.

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What is Sample Schedule of Values?

A Sample Schedule of Values is a document that outlines the various components of a construction project and assigns a value to each component, reflecting its cost contribution to the overall project.

Who is required to file Sample Schedule of Values?

Contractors, subcontractors, and suppliers involved in construction projects are typically required to file a Sample Schedule of Values for project tracking and financial management.

How to fill out Sample Schedule of Values?

To fill out a Sample Schedule of Values, list all significant project tasks, assign a value to each task according to its cost, and organize them sequentially. Ensure that totals and percentages for each task fit within the overall budget.

What is the purpose of Sample Schedule of Values?

The purpose of the Sample Schedule of Values is to facilitate budget management, monitor project progress, and provide a clear breakdown of costs associated with each task or component of the project.

What information must be reported on Sample Schedule of Values?

The Sample Schedule of Values must report information including the description of work components, corresponding costs, original contract amounts, revised amounts if any, and payment application amounts.