About the subcontract schedule of values

Issuing subcontracts to vendors and consultants for a defined scope of work at a Fixed Lump Sum price is common in the construction industry. The lump sum is paid regardless of whether the work requires more or less time, unless the scope changes. Any scope changes are handled separately through a Subcontract Change Order (SCO).

For Fixed Lump Sum subcontracts, the original contract amount is broken down into a Schedule of Values. Each line in the Schedule of Values represents a portion of the work and serves as the basis for reviewing subcontractor invoices. The Financial Dashboards display the subcontract’s Schedule of Values in the Committed Cost column.