Download SECTION 01280 SCHEDULE OF VALUES (Contract Cost Breakdown)

SECTION 01280
SCHEDULE OF VALUES
(Contract Cost Breakdown)
PART 1 GENERAL
1.01 RELATED DOCUMENTS
A.
Drawings and general provisions of the Contract, including General and
Supplementary Conditions and other Division 1 Specification Sections, apply
to this Section.
B.
Procedures for preparation and submittal of Contract Cost Breakdown.
C.
General Conditions of the Contract: Article 9.1 - Contract Cost Breakdown
D.
Section 01010 — Bid Package descriptions
E.
Section 01290 - Application for Payment: Procedures of Applications for
payment.
1.02 SUMMARY
A. This Section specifies administrative and procedural requirements governing
each prime contractor's Schedule of Values.
1. Coordinate the Schedule of Values (Contract Cost Breakdown) with the
Applications for Payment, Project Schedule, Submittal Schedule, and
List of Subcontracts.
2. Contractors shall use form provided.
B. Progress payments will not be processed without an approved Schedule of
Values on file.
1.03 SCHEDULE OF VALUES (CONTRACT COST BREAKDOWN)
A. Coordination: Each prime Contractor shall coordinate preparation of its
Schedule of Values for its part of the Work with the Construction Manager's
Project Schedule.
1. Correlate line items in the Schedule of Values with other required
administrative schedules and forms, including:
a. Construction Manager's Project Schedule.
b. Application for Payment OSFC summary forms, including
Continuation Sheets.
C.
List of Subcontractors.
CM
SCHEDULE OF VALUES
01280-1
Schedule of Allowances.
Not
Accepted Alternates should be included as base bid. separately.
List of products.
f.
g. List of principal suppliers and fabricators.
h. Schedule of submittals.
Within ten (10) days of Award of Contract, each awarded Contractor
shall submit to the Construction Manager a Schedule of Values, for
approval, showing accurate costs for the items of work assigned to the
Contractor, defined under Section 01010-Summary of the Work.
Sub-schedules: Where Work is separated into phases requiring
separately phased payments, provide sub-schedules showing values
correlated with each phase of payment.
d.
e.
2.
3.
B. Format and Content: Use the Project Manual table of contents as a guide
to establish the format for the Schedule of Values. The Schedule of Values
shall include at a minimum a line item for labor and material costs for each
specification section assigned to the Contractor under Section 01010Summary of the Work, and shall further divide the work into a sufficient
number of individual work items to serve as an accurate basis for
Contractor's Application for Payment. Each work item shall receive its
prorated share of profit and overhead, including a line item for closeout.
The Schedule of Values shall consist of a complete breakdown of the
Contractor's contract sum showing the various items of work, divided so as
to facilitate the approval of payments to the Contractor for Work completed.
In addition to and conjunctive with the division of various items of work, the
breakdown shall separate individual buildings within the project, shall
separate site work from building(s) components, and shall separate
remodeling/renovation work from new construction work. The Schedule of
Values shall be prepared in a format as directed by the CM, showing the
breakdown of items of Work and supported by such data to substantiate its
correctness as the CM may require. This schedule, when reviewed by the
Construction Manager, Engineer / Consultant, and Owner, shall be used as
the basis of approving payments along with establishing percentages of
Work complete and may be used to adjust the Contract if work becomes
deleted.
FORMAT
• To be submitted on OSFC's forms provided.
• Identify each line item by specification number, list sub-contractor or
supplier and material and labor value.
CONTENT
• For each major line item, list sub-values of products or operation under
the item.
• For the various portions of the Work:
CM
SCHEDULE OF VALUES
01280-2
Each item shall include a directly proportional amount of the
Contractors overhead and profit.
o For items on which progress will be requested for stored materials,
breakdown the value into:
• The cost of materials delivered and unloaded.
• The total installed value.
o
1.
Include the following Project identification on the
Identification:
Schedule of Values:
Project name and location.
a.
b. Name of the Engineer / Consultant.
c.
Project number.
d. Contractor's name and address.
e. Date of submittal.
2. Provide a breakdown of the Contract Sum in sufficient detail to
facilitate continued evaluation of Applications of Payment and progress
reports. Break principal subcontract amounts down into several line
items.
3. Arrange the Schedule of Values in tabular form with separate columns
to indicate the following for each item listed.
a. Item Number - Related specification section followed by a number
indicating which entry this item is under the Specification Section,
then an "L" or "M" to indicate labor or material.
b. Description of Work.
c.
Name of Subcontractor or
d. Name of Manufacturer or Fabricator.
e. Name of Supplier
f.
Change Order (numbers) that affect value.
g. Scheduled Value of each line item.
h. Percentage of Contract Sum to nearest one-hundredth percent,
adjusted to total 100 percent.
4. In addition to the sections assigned to the Contractor as defined
above, Contractors shall include the following line items on their
Schedule of Values:
a. Actual costs for Bonds, Insurance, Permits and Tests
b. Mobilization: Cost will be reviewed by CM.
c.
Submittals: Shall be in the amount of 1% of the total contract;
however, not less than $1,000 or more than $15,000.
d.
Daily Cleanup: Shall be in the amount of 1 percent of the total
contract amount. This includes final cleanup.
e. Project Meeting Attendance: In an amount equal to 1 percent of
the Contract amount; however, not less than $500.00 or more
than $5,000.00.
f.
Closeout Paperwork: In an amount equal to 1 percent of the
Contract amount; however, not less than $500.00 or more than
CM
SCHEDULE OF VALUES
01280-3
g.
h.
i.
j.
$15,000.00. Provide a separate line item for Operation and
Maintenance Manuals, As-Built Drawings.
Temporary Facilities and other major items that are not direct
cost of actual work-in-place. Cost will be reviewed by CM.
Punch List. Cost will be reviewed by CM.
On-Site Supervision: Actual costs.
Allowances: Actual costs from the Allowances spec (not Unit-cost
allowances found in section 8 below)
5. Schedule of Values shall be coordinated with the Construction
Schedules such that the percentages of Work completed closely relates
to the values for the Work shown on the request for payments.
6. Round amounts to nearest whole dollar; the total shall equal the
Contract Sum.
7. Provide a separate line item in the Schedule of Values for each part of
the Work where Applications for Payment may include materials or
equipment, purchased or fabricated and stored, but not yet installed.
a. Differentiate between items stored on-site and items stored offsite. Include requirements for insurance bonded warehousing.
b. Complete OSFC Stored Materials forms as applicable.
8. Unit-Cost Allowances: Show the line-item value of unit-cost
allowances, as a product of the unit cost, multiplied by the measured
quantity. Estimate quantities from the best indication in the Contract
Documents.
C.
Each Schedule of Values shall have the Contractor's name, Bid Category
name and number, project name and number and shall be dated and
signed.
D.
Should the Schedule of Values be "rejected, resubmit", resubmittal is due
within five (5) days of receipt of rejected schedule.
E.
The Contract Cost Breakdown must be approved by the CM and Engineer /
Consultant prior to receipt of any applications for payment.
F.
The following Fee Schedule has been established and will be deducted for
the Contractor's Contract for each line item noted below if not abiding per
the Contract Documents:
a. Daily Clean-up: $500.00 per occurrence after being notified to perform
clean-up via RIDJ's Housekeeping Directive.
END OF SECTION 01280
CM
SCHEDULE OF VALUES
01280-4
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
1
I
I
I