Bid schedule vs schedule of values
Updated · BuildGets Team
A bid schedule is the owner's list of bid items, with quantities and units, that you price to win the job. A schedule of values (SOV) is the contractor's breakdown of the contract sum, prepared after award, used to bill progress payments. One comes before the contract, the other after it.
Side by side
| Bid schedule | Schedule of values | |
|---|---|---|
| Purpose | Compare bids and set unit prices | Bill progress payments |
| Prepared by | Owner or engineer | Contractor, approved by owner or architect |
| When | Before bid day, in the bid documents | After award, before the first pay application |
| Contents | Item numbers, descriptions, units, quantities, blank prices | Line items and their scheduled values, adding up to the contract sum |
| Typical form | Bid form inside the bid package | AIA G703 continuation sheet or the owner's pay form |
How they connect on unit-price work
On water, sewer and paving jobs paid by unit price, the bid items usually carry straight into the contract as the payment items. Each pay application measures the quantity installed for each item and multiplies it by the bid unit price. That is why the item numbers, units and quantities on your bid schedule matter long after bid day.
Where the mistakes happen
The bid schedule is transferred at least twice: from the owner's PDF into your estimate, and from your estimate into the payment items. Each transfer can drop an item or change a unit. Converting the bid form once, with every item checked, and reusing that list for both steps removes most of that risk. BuildGets BID does the first transfer and marks each item as verified or to review.
Questions
Is a bid schedule the same as a schedule of values?
No. The bid schedule is the owner's list of items you price to win the job; the schedule of values is the contractor's breakdown of the contract sum used to bill progress payments after award.
Who prepares each one?
The owner or engineer prepares the bid schedule. The contractor prepares the schedule of values, and the owner or architect approves it.
On a unit-price job, do I still need a schedule of values?
Usually the bid items themselves become the payment items, measured by installed quantities. Some owners still ask for a schedule of values for lump-sum items.
Related: bid form glossary and how to import a PDF bid form into HeavyBid.