Contractor schedule of values
A detailed breakdown of specific work items on a subcontract or purchase order to an upstream contractor.
A contractor schedule of values is a detailed list that allocates the total contract amount to various parts of the project. It serves as a basis for progress payments and helps in monitoring project financials, ensuring that payments are linked to actual work completed.
Used in a sentence
The contractor schedule of values breaks down the project cost into individual work components.
Synonyms/variation
SOV
Stay updated on what’s happening in construction.
Subscribe to Blueprint, Procore’s free construction newsletter, to get content from industry experts delivered straight to your inbox.
Learn MoreLearn more about Contractor schedule of values
The Construction Buyout Process Explained
Although every construction project is unique, all projects progress in several common phases, from predevelopment through to closeout. Each stage of a project builds on the ones before it. During preconstruction, the drawings are finalized and the general contractor is selected. But the project isn’t ready to break ground quite yet. Because the GC rarely […]
How can we improve this glossary entry?
By clicking this button, you agree to our Privacy Notice and Terms of Service.