{"id":69141,"date":"2023-12-27T11:04:34","date_gmt":"2023-12-27T17:04:34","guid":{"rendered":"https:\/\/www.projectmanager.com\/?post_type=templates&p=69141"},"modified":"2026-04-28T16:01:31","modified_gmt":"2026-04-28T21:01:31","slug":"schedule-of-values-template","status":"publish","type":"templates","link":"https:\/\/www.projectmanager.com\/templates\/schedule-of-values-template","title":{"rendered":"Schedule of Values Template"},"content":{"rendered":"

Construction projects involve a lot of activities. A schedule of values (SOV) is a way to make sure that all that work is identified and accounted for. It\u2019s one of the many essential construction project management documents<\/a> that contractors need to define their work and get paid. Download our free schedule of values template for Excel to help guide the financial management and process of your construction project.<\/p>\n

Or, open the schedule of values template in ProjectManager, and build a detailed construction task list that accounts for costs, resources, planned hours, timelines and more. By building a schedule of values online, you can collaborate with your team, track progress with dashboards and run detailed reports for stakeholders. Get started with ProjectManager for free and build a better schedule of values today.<\/p>\n

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ProjectManager’s Gantt chart is more powerful than a schedule of values template. Learn more<\/a><\/figcaption><\/figure>\n

What Is a Schedule of Values?<\/h2>\n

A schedule of values is an itemized list of the activities that are necessary to complete a construction project. It\u2019s all the activities in the scope of work<\/a>, including their costs or values. This construction project management document will detail everything that has to be done on the project from start to finish.<\/p>\n

The word “values” reflects the payment that the contractor is entitled to after the completion of each work component. When all those values are added up the total should be equal to the contracted amount agreed upon by the contractor and the project owner<\/a>.<\/p>\n

The schedule of values also helps with financial control, payment management, project monitoring and documentation. Using a schedule of values not only captures the project scope and contractor payment but can be used as a communication tool to add transparency and inform decision-making for all project stakeholders. Think of it as a roadmap for the financial management and progress of the entire construction project<\/a>.<\/p>\n

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ProjectManager’s free schedule of values template for Excel.<\/figcaption><\/figure>\n

Why You Need a Schedule of Values Template<\/h2>\n

Our free schedule of values template is important because it gives you a customizable document that you can fill in with all the activities you need and then automatically calculate various values, so you don\u2019t have to do the math.<\/p>\n

Beyond the ease by which our free template helps track construction costs<\/a>, there\u2019s also that using a schedule of values template helps to avoid costly delays and overruns. There\u2019s also payment processing, which involves several key stakeholders and detailed paperwork, which is facilitated by the use of a schedule of values templates.<\/p>\n

While a schedule of values can help keep cash flow in check and ensure there are enough funds available to keep projects running on schedule, you\u2019ll want to use it with construction project management software<\/a>. ProjectManager is construction project management software that has powerful Gantt charts that help you manage activities, costs and more all in real time. Templates aren\u2019t real-time data, but our Gantt chart updates in real time. More than that it can link all four types of task dependencies, filter for the critical path and set a baseline to track project variance. Get started with ProjectManager today for free.<\/p>\n

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ProjectManager\u2019s Gantt charts help you plan, manage and track construction projects in real time. Learn more<\/a><\/figcaption><\/figure>\n

When Should You Use a Schedule of Values Template?<\/h2>\n

The schedule of values template is used by contractors, though subcontractors can also benefit from it. They can use it throughout the life cycle of the construction project to foster better communication and coordinate activities to avoid delays that can threaten to overrun the construction budget<\/a>.<\/p>\n

However, the schedule of values template is best when working on a large-scale commercial construction project. These complex projects<\/a> benefit from using a schedule of values template to keep up with the budget, cost tracking and payment application management.<\/p>\n

Who Is This Schedule of Values Template for?<\/h2>\n

Many construction professionals use a schedule of values throughout the life cycle of the project. As noted above, it’s an essential construction document for managing complex projects, keeping them on track and avoiding payment delays. Therefore, all these construction professionals will use this free schedule of values template.<\/p>\n