Construction · Defined
Schedule of values
A breakdown of the construction contract amount into work items used to organize progress billing. Each line has an assigned value against which completed work and stored materials are reported.
Why it matters
The breakdown should be detailed enough to compare the payment request with observable progress. A large miscellaneous line can conceal an unfinished scope or an early billing imbalance. Lenders and equity partners also need to understand which costs sit outside the contractor’s schedule.
In practice
A project example
A building’s exterior may have separate lines for framing, windows, insulation, and cladding. Treating the entire enclosure as one line makes it harder to explain why a particular percentage is earned.
General educational guidance from KOW Building Consultants. Examples are illustrative, not project records. The applicable contract, standard, program, and jurisdiction control the requirements for a specific assignment.