Schedule of Values - 293

ConsensusDocs 293 is a standardized Schedule of Values (SOV) form that offers a comprehensive breakdown of the cost elements associated with a construction project. It is designed to be used in conjunction with ConsensusDocs 291 and ConsensusDocs 292, which are applications for payment forms tailored to cost-of-the-work plus fee with GMP and lump sum contracts, respectively.

The Schedule of Values plays a critical role in the construction payment process by itemizing each portion of the work and assigning a corresponding monetary value. This document serves as the basis for tracking the value of work completed, monitoring change orders, and identifying the balance remaining to finish. It offers a clear, structured overview that helps both the Owner and Constructor (including general contractors, design-bid-build firms, and construction managers) assess financial progress and ensure transparency at every billing cycle.

Key Functions:

• Breaks down the cost of each work element
• Supports accurate progress billing
• Enhances use of payment forms 291 and 292
• Tracks completed work value and balance to complete
• Supports financial planning and documentation
• Helps ensure transparency in construction payments

By using ConsensusDocs 293, construction stakeholders can streamline their billing process, reduce misunderstandings, and maintain accountability across all phases of the project. This form is essential for ensuring that each component of the construction scope is properly valued and billed as it is completed, facilitating better cost control, documentation, and contract compliance.