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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.

Video instructions and help with filling out and completing schedule of values

Instructions and Help about blank schedule of values form

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...

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What is subcontractor schedule of values?

A subcontractor schedule of values is a document that outlines the breakdown of costs associated with a specific subcontractor's portion of work on a construction project. It includes a list of all the elements or items of work, their quantities, unit prices, and total values. The schedule of values helps in tracking and managing payments to subcontractors, as it provides a clear overview of the agreed-upon costs for their scope of work.

Who is required to file subcontractor schedule of values?

The general contractor is typically responsible for filing the subcontractor schedule of values.

How to fill out subcontractor schedule of values?

The subcontractor schedule of values is a document that outlines the breakdown of costs associated with a subcontractor's work on a construction project. To fill it out, follow these steps: 1. Identify the project: Write the project name, location, and any other relevant details at the top of the schedule. 2. List the subcontractor's information: Include the subcontractor's name, address, contact information, and any unique identification numbers they may have. 3. Include the date: Write down the date on which the schedule is being prepared. 4. Identify the payment terms: Clarify the terms and conditions under which the subcontractor will be paid. This may include information on milestones, progress payments, and retainage. 5. Break down the work: Itemize the various components or tasks that the subcontractor will be responsible for. This could include specific installations, materials, labor, or any other relevant items. 6. Assign a value to each item: Allocate a monetary value for each item listed. These values should reflect the actual cost of the subcontractor's work and may be based on estimates or bids provided by the subcontractor. 7. Calculate subtotals: Sum up the values for each item to calculate the subtotal for each section or category. This will provide a clear breakdown of costs. 8. Add any applicable taxes or fees: If there are any taxes or fees that need to be included, make sure to add them to the appropriate sections or categories. 9. Determine the total: Sum up all the subtotals and include a final total at the bottom of the schedule. 10. Include any required signatures: Depending on the project requirements, you may need to include signatures from both the subcontractor and the general contractor. Make sure to leave space for these signatures at the end of the document. 11. Review and revise if necessary: Before finalizing the schedule, review it carefully to ensure accuracy and completeness. Make any necessary revisions or adjustments and double-check all calculations. Remember to keep a copy of the completed schedule for your records, as it will serve as a benchmark for progress and payment throughout the project.

What is the purpose of subcontractor schedule of values?

The purpose of a subcontractor schedule of values is to outline and itemize the various components or stages of work that a subcontractor is responsible for in a construction project. It provides a detailed breakdown of the contract value and progress billing for the work performed by the subcontractor. This schedule is typically used to track and manage payments, document completed work, and ensure accurate invoicing and financial control throughout the project.

What information must be reported on subcontractor schedule of values?

The information that must be reported on a subcontractor schedule of values may vary depending on the project and the specific requirements of the general contractor. However, typically, the following information is included: 1. Subcontractor Information: The name, address, contact details, and other pertinent information of the subcontractor. 2. Work Item Description: A detailed description of the specific work items or tasks that the subcontractor will be performing. This may include materials, labor, equipment, and other relevant components. 3. Quantity: The quantity or amount of work units for each specific task or work item. 4. Unit Price: The agreed-upon unit price for each work item. This is usually the cost per unit of measure such as per square foot, per hour, per piece, etc. 5. Total Amount: The total cost for each work item, which is calculated by multiplying the quantity with the unit price. 6. Cost Breakdown: A breakdown of the costs for each work item, including labor, materials, equipment, overhead, profit, and any applicable taxes or fees. 7. Subtotal: The subtotal for all work items within a specific category or section. 8. Grand Total: The total amount for all work items combined, including all applicable taxes and fees. 9. Payment Schedule: Information regarding the timing and frequency of payment milestones or progress payments for the subcontractor. 10. Retainage or Holdbacks: If applicable, details of any retainage or holdbacks that will be withheld from payments as a form of security until the completion of the project. It is important to note that these items can vary depending on the specific project requirements and contractual agreements between the general contractor and subcontractor.

What is the penalty for the late filing of subcontractor schedule of values?

The penalty for the late filing of subcontractor schedule of values may vary depending on the specific contractual agreements between the parties involved. Typically, late filing of subcontractor schedule of values may result in financial penalties or deductions from the subcontractor's payment. It is important for subcontractors to adhere to the agreed-upon deadlines to avoid any negative consequences. It is recommended to review the terms and conditions of the subcontract agreement to determine the exact penalties for late filing.

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