Schedule of Values (SOV)
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. According to the standardized contract documents from the American Institute of Architects (AIA), “The schedule of values shall allocate the entire contract sum among the various portions of the work.” [from levelset.com]
Grant permission to edit SOVs here: Employees > Permissions > General > Can Edit SOV
Add a schedule of values to your project
Open the Project form: Toolbar > Project icon
Select the Contract tab and the SOV sub-tab.
To create an SOV, right-click in the gray space below and select Add.
Add a description. When the Unit Value is entered, other fields are filled in as well.
Add additional SOVs as needed.
All of the new SOV fields can be edited except the %Invoiced, Invoiced, and Not Done columns.
When SOV and Contract values do not match, the font turns red.
