Recruiter's Glossary

Examples: Warranty Period • Punch List • Project Schedule

Schedule of Values

Term from Contracting industry explained for recruiters

A Schedule of Values (SOV) is a detailed list that breaks down the costs of a construction project into smaller parts. Think of it like an itemized receipt for a large construction job. It shows how much each part of the work costs and helps track payments throughout the project. Construction managers and contractors use this document to request payments, showing exactly what work has been completed and what still needs to be done. It's similar to a budget spreadsheet but specifically designed for construction projects. Other names for this might include "payment schedule," "cost breakdown structure," or "construction cost itemization."

Examples in Resumes

Managed and updated Schedule of Values for $5M commercial building project

Created and maintained SOV documents for multiple concurrent construction projects

Supervised payment applications using Schedule of Values tracking system

Typical job title: "Construction Project Managers"

Also try searching for:

Project Manager Construction Manager Contract Administrator Cost Controller Project Cost Manager Construction Cost Estimator Project Controls Specialist

Where to Find Construction Project Managers

Professional Organizations

Job Boards

Professional Networks

Example Interview Questions

Senior Level Questions

Q: How do you handle disputes related to Schedule of Values and payment applications?

Expected Answer: A senior professional should explain their process for documentation, negotiation with stakeholders, and resolution methods, emphasizing communication and detail-oriented approach to prevent disputes.

Q: How do you manage changes to the Schedule of Values during a project?

Expected Answer: Should discuss change order procedures, updating documentation, communicating with stakeholders, and maintaining accurate records while ensuring project continuity.

Mid Level Questions

Q: What information do you include when creating a Schedule of Values?

Expected Answer: Should mention breaking down costs by work categories, materials, labor, timeline considerations, and how they ensure all project components are accounted for.

Q: How do you use the Schedule of Values to track project progress?

Expected Answer: Should explain how they match completed work to payment requests, track percentage completion, and use the SOV to forecast project timeline and budget status.

Junior Level Questions

Q: What is a Schedule of Values and why is it important?

Expected Answer: Should explain that it's a detailed breakdown of project costs used for tracking progress and processing payments, demonstrating basic understanding of its role in construction management.

Q: How often should a Schedule of Values be updated?

Expected Answer: Should discuss monthly payment applications, project milestones, and the importance of keeping the document current with project progress.