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Create Schedule of Values (SOV) from the Budget

Objective

To use the project's budget (from the Budget tool) to create the Schedule of Values (SOV) for a new Prime Contract.

Things to Consider

  • Required User Permissions: 'Admin' level permissions on the Prime Contract tool.
  • Before you perform this action, you should have finalized (and preferably 'locked') the project's budget using the Budget tool.
  • You can only perform this action if there are zero line items in your Prime Contract's SOV and its status is in "Draft" mode.

Steps

If you created a project budget (using the Budget tool), you can use it to quickly build out a Prime Contract's SOV. There are two options for how to create the Prime Contract SOV from the Budget tool. (Note: You can only perform this action if there are zero line items.)

  1. Go to the project's Prime Contract tool. Make sure that the Prime Contract status is set as "Draft" mode under the General sub tool.
  2. Click the Schedule of Values sub tool.
  3. Click Edit.
  4. You will have the option to perform one of the following actions:
    • Option 1: A line item will be created for each line item on the project budget

      Create_a_Prime_Contract_SOV_by_Line_Item.png
       
    • Option 2: A line item will be created for summaries of each division on the project budget. (Note: Use this option if you prefer to breakdown costs by division instead of by individual line items.)
      Create_a_Prime_Contract_SOV_by_Division_Summary.png
       
  5. ​Click Save to save your changes.
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Last modified
16:15, 14 Feb 2017

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