The Schedule of Values is used to provide which of the following?

The Schedule of Values is used to provide which of the following?

• A. Final project cost estimate
• B. An itemized list used for progress payments
• C. Baseline for construction scheduling
• D. Procurement sequencing

Answer: (B)

The Schedule of Values is an itemized breakdown of the contract sum by work components that is used to determine progress payments. By listing each portion of the work with its assigned value, it provides a basis for paying the contractor as those portions are completed and accepted, linking payment to the actual value of work performed. It creates a transparent, auditable record that the owner, architect/engineer, and contractor use to issue periodic payments and track cost-to-date. It is not a final project cost estimate, which summarizes total anticipated costs at project end; it is not the baseline for construction scheduling, which establishes when activities will occur; and it is not about procurement sequencing, which concerns the order of acquiring materials and services.

The Schedule of Values is an itemized breakdown of the contract sum by work components that is used to determine progress payments. By listing each portion of the work with its assigned value, it provides a basis for paying the contractor as those portions are completed and accepted, linking payment to the actual value of work performed. It creates a transparent, auditable record that the owner, architect/engineer, and contractor use to issue periodic payments and track cost-to-date. It is not a final project cost estimate, which summarizes total anticipated costs at project end; it is not the baseline for construction scheduling, which establishes when activities will occur; and it is not about procurement sequencing, which concerns the order of acquiring materials and services.