Schedule of Values for Commercial Construction Form

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A schedule of values (SOV) template for commercial construction form is a document that outlines and prioritizes the various components of a construction project based on their value. It is typically used in conjunction with the Uniformat Masterformat system to facilitate clear communication between contractors, architects, engineers, and clients during the bidding process.

The SOV template assigns a monetary value or price tag to each project component, making it easier for all parties involved to understand what they are being asked to pay for. This helps ensure that every bid submitted is comprehensive and accurate, reducing the risk of disputes or misunderstandings down the line.

A standard SOV template for commercial construction may include sections such as:

1. Exterior Work: This includes costs associated with the exterior of the building, such as siding, windows, doors, and any site work.
2. Structural Work: The cost of structural elements like steel framing or concrete foundation is included in this category.
3. MEP (Mechanical, Electrical, Plumbing) Work: Costs related to installing electrical systems, plumbing, heating, and cooling are categorized under MEP.
4. Finishing Work: This section covers the installation of flooring, walls, ceilings, doors, windows, etc., including any finishes such as paint or trim work.
5. Special Construction: Any specialized construction like drywall installation, insulation, or fireproofing falls under this category.
6. Equipment and Appliances: The cost of installing and connecting equipment and appliances is included here.
7. Furniture and Fixtures: Costs associated with the installation of furniture and fixtures are categorized under this section.
8. Site Work: This includes costs for site preparation, grading, excavation, etc., before construction begins.

Having a detailed schedule of values template ensures that all stakeholders have a clear understanding of what they're paying for, which can lead to more accurate bids, fewer disputes, and ultimately, a smoother project execution process.

Implementing a Schedule of Values (SOV) template for commercial construction forms can benefit your organization in several ways:

• Reduces disputes and claims by providing a clear breakdown of project costs
• Improves communication among stakeholders through transparent cost tracking
• Enhances budgeting accuracy by facilitating regular cost updates
• Supports faster project closeout with more efficient final accounting processes
• Facilitates better resource allocation based on current project financials

1. Project Description
2. Cost Accounts and Categories
3. Estimated Costs
4. Actual Costs
5. Contingency Allowances
6. Profit Markups