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.. Cost-segregation studies that result in significant tax savings demand far more analysis than simply classifying line items from the contractor's schedule of values.. There is no specific form for the schedule of values. it is part of the application for payment, g702 & g703, and is created by completing the g702 & g703 (columns b & c). this is a detailed list, line by line, showing the components or parts of the total contract amount..
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Schedule of values. a schedule of values breaks the price down and allocates it among various components of the work: excavation, foundation, superstructure steel, curtain wall, electrical, plumbing, hvac, vertical transportation, drywall, paint, general conditions costs.. Schedule of values. description: the schedule of values form allows you to create a customized schedule of values for your construction project. our schedule of values form is a fully editable microsoft excel template. the form automatically calculates total indirect cost, total direct costs, and total project cost.. Glossary of building and construction terms . meaning and definition of schedule of values: schedule of values: a listing of individual component costs that comprise the complete contract price, this listing will be the basis for progress payments. [w2] the meaning and definition indicated above are indicative not be used for medical and legal.
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