About Modifying the Schedule of Values

As a General Contractor or Owner, you enter the budget for a project on the Schedule of Values (SoV) page. The SoV can include line items showing the work breakdown.

Only users with a Project Manager role and Manage Projects permissions can edit an SoV.

Project Managers have the following budget management options:

View SoV: View or review the current budget
Edit Schedule of Values: Change the budget without a change order
- Reallocate line item amounts without changing the overall contract value (net $0 change)
- Add or delete lines with no subcontracts tied to them (unassigned)
  Haven't entered a budget yet?
  
  Entering a budget is part of Project Setup.
  
  See Edit Schedule of Values for instructions.
Create Change Orders: Modify the project budget with a change order
Audit Reports: Reports about changes to the SoV.

Modify SoV Amounts

Modify the budget without a change order if the total value of the contract is not changing. The sum of the line items must equal the total contract value. To make changes that add or subtract from the project budget, you must create a change order.

See Reallocating Budget Amounts to an Existing Line or Reallocating Budget Amounts to a New Line for instructions.

Why Modify a Budget Without Changing the Contract Value?

Modify SoV amounts to:

Create, delete, or combine Schedule of Values lines
Redistribute monies to correspond with previous payments
Allocate or reallocate monies in accordance with existing change orders.

Change Orders

Prime Contract Change Orders (PCCO)

Use PCCOs to modify the contract for the entire project. PCCOs may represent modifications to multiple line items on the budget.

See Creating a Prime Contract Change Order for instructions.

Subcontract Change Orders (SCO)

Use SCOs to modify individual subcontracts and represent changes made to only that subcontract.

Any modification to subcontract totals on the application require the creation of a change order.
Adjustments for each separate change order are made independently of one another in the application (not at the same time).
Each subcontract that must be modified requires a separate SCO.
When you create and assign a change order to a new component, the application automatically allocates the change order for the Subcontractor.
When you create and assign a change order to an existing SoV line item not modified by the Subcontractor, the application automatically allocates the change for the Subcontractor.
If the application does not automatically allocate the change order, the user must adjust the SoV.

See Creating a Subcontract Change Order for General Contractors or Change Orders for Owners for more information.

Audit Reports

The application allows users to create reports to monitor changes to budget information. Access these reports from the Project Reports menu at the top of any project page.

See Audit Reporting for instructions.

Reallocating Budget Amounts to an Existing Line

Reallocating Budget Amounts to a New Line

Reallocating Billings to an Existing Line Item

Reallocating Billings to a New Line Item

Viewing Subcontracted Lines

Next: Reallocating Budget Amounts to an Existing Line