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SCHEDULE OF VALUES PRELIMINARY COST ESTIMATE FORM PROJECT/CONTRACT PROJECT NAME COUNTY CITY/LOCATION PRIVATE ENTITY NAME Note CBC4704-01-123 Property Exchange Dallas District Various Locations Dallas Area Engineer and Maintenance Facility Irving Texas Allowances will be based on Construction Documents ITEM NO. DESCRIPTION OF WORK Mobilization Temporary Facilities Site Work Utilities Erosion Control Paving curb and gutter Fencing with gates Landscaping Allowance 50 000 Office Building...

How to fill out schedule of values form

How to fill out subcontractor schedule of values:

1. Gather all relevant information about the project, such as the scope of work, contract terms, and specifications.
2. Identify each specific task or item included in the subcontractor's scope of work.
3. Assign a unique identifier to each task or item, such as a numeric code or item description.
4. Determine the quantity or amount of each task or item to be completed by the subcontractor.
5. Calculate the unit price or rate for each task or item, based on the agreed-upon contract terms.
6. Multiply the quantity or amount by the unit price to calculate the subtotal for each task or item.
7. Include any applicable taxes, fees, or surcharges in the subtotal.
8. Sum up all the subtotals to determine the total value of the subcontractor's scope of work.
9. Double-check all calculations and ensure accuracy before finalizing the schedule of values.

Who needs subcontractor schedule of values:

1. General contractors or prime contractors use the subcontractor schedule of values to track and manage the financial aspects of the project.
2. Clients or project owners may review the subcontractor schedule of values to understand the breakdown of costs and progress of the project.
3. Subcontractors themselves use the schedule of values as a reference to track their own progress and ensure they get paid correctly for the work completed.

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What is schedule of values?

A schedule of values is a document used in construction that lists all the components of a project along with their corresponding cost values, used as a basis for progress billing.

Who is required to file schedule of values?

The contractor or subcontractor working on a construction project is typically required to file a schedule of values with the project owner or general contractor.

How to fill out schedule of values?

To fill out a schedule of values, list each work item or category, assign a value to each item, total the values, and ensure it reflects the payment structure outlined in the contract.

What is the purpose of schedule of values?

The purpose of a schedule of values is to provide a clear breakdown of the project's costs, facilitate payment requests, and help track progress against the budget.

What information must be reported on schedule of values?

The schedule of values must include item descriptions, corresponding values, total contract amount, any allowances, and payment schedules, along with any related change orders.