Schedule of Values Management

Modify the budget if the total value of the contract is not changing. The sum of the line items (Working Totals) must equal the total contracted value of each component (Totals). If you need to change the value of the contract, your General Contractor will need to create a subcontract change order for your organization.

Why Modify a Budget Without Changing the Contract Value?

Modify your current Schedule of Values (SoV) to:

Create, delete, or combine scheduled value lines
Allocate or reallocate funds in accordance with existing change orders.

Before You Begin

You can only edit your schedule of values if your General Contractor does not use the Specified SoV contract setting. If your General Contractor uses the Specified SoV setting, you cannot access the Edit Schedule of Values page, but you can still see your billing information on the View Schedule of Values page.
Make sure someone in your organization is assigned the Project Manager project role for the project related to your SoV. This is a required role for working on a project on TPM and only Project Managers can edit the SoV.
Consider whether you need to break out your SoV before beginning these steps. If you or your General Contractor do not need a detailed record of your work and fund allocation, you can leave this page alone.
The Edit Schedule of Values and Enter Invoice pages and workflows are different. The SoV is your budget for the project and reflects your total contract value. You use the Enter Invoice page to record the value of and submit a claim for the work you performed during a scheduled draw.
If your assigned budget on the Edit Schedule of Values page is too low or too high for the work you will provide on the project, you can ask your General Contractor to adjust the value of your contract with a change order.

High-Level Overview

This guide directs you through the steps required to itemize your work breakdown.

To edit your work breakdown on a project:

Navigate to the Edit Schedule of Values Page.
When you first access this page, you will see a table with a single line item on the Edit SoV tab. The line item includes a description and the entirety of your budget for the project.

Note: This is the most common experience for Subcontractors on TPM. If your General Contractor linked your contract to two separate components in their work breakdown, you might see two or more tables on this page.
Manually break out the SoV on the Edit SoV tab to show more details for your budget. Add a new line to the table and edit the following columns for that line: Phase Code, Description, and Adjustment Amount.
The total of all lines in your Scheduled Values (Working Totals) must equal the original budget amount (Totals). If these two numbers do not match, your Schedule of Values will be out of balance and you will not be able to proceed.

Note: Your project budget is determined by the General Contractor organization. Once you accept the contract, you will need to ask your General Contractor for a change order to increase or decrease the total contract value.

Optional Steps

View Schedule of Values: As a Subcontractor, you can view the current budget on the View Schedule of Values page. This page differs slightly from the Edit Schedule of Values page because it shows the SoV as a single table and reflects the budget after the last claims period.

If your General Contractor uses the Specified SoV contract setting, you cannot edit your budget or access the Edit Schedule of Values page, but you can still access and view the View Schedule of Values page.

Note: The link below open the Help documentation in a new browser tab. The current tab will continue to display this guide (Subcontractor Schedule of Values Management) and will retain the topic you are currently viewing.

See View Schedule of Values for Subcontractors.

Why Modify a Budget Without Changing the Contract Value?

Before You Begin

High-Level Overview

Optional Steps

Related Topics