The Schedule of Values (SOV) is a crucial tool in construction, breaking down total project costs into detailed line items, allowing for precise financial management.
Using a Schedule of Values significantly bolsters project managers’ abilities to forecast cash flow, manage expenses accurately, and track work completion effectively throughout the project.
The SOV serves as a fundamental reference for project owners, detailing costs associated with specific tasks, facilitating better financial decision-making during the project's lifecycle.
Incorporating a Schedule of Values not only helps in financial oversight but also enhances communication among contractors and stakeholders regarding project progress and financial health.
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