Who prepares the Schedule of Values?

• A. The Contractor
• B. The Owner
• C. The Architect
• D. The Subcontractor

Answer: (A)

The Schedule of Values is created by the contractor. This detailed breakdown translates the total contract sum into line-item values for each major portion of the work, providing a clear map of what portion of the price is tied to which components and how much of the work has been completed and earned. When the contractor submits a payment request, the Schedule of Values accompanies it, and the architect or engineer reviews and approves it to ensure the requested payment aligns with actual progress. The owner relies on this breakdown to monitor progress, but it is the contractor who prepares the SOV, often incorporating input from subcontractors for their scopes.