Progress Billing and the Schedule of Values
Progress billing converts physical progress into money owed. The schedule of values is the instrument that makes each claim objective.
The schedule of values (SOV)
Divide the contract sum into line items that map to identifiable work — by trade, by element, or by area. Each line carries a value; the values sum to the contract sum. Front-loading (inflating early items) is a common dispute — keep the SOV proportional to real cost.
Each billing period
Total earned to date = Σ (line value × % complete now)
The payment application
| Line | Amount |
|---|---|
| Total earned to date | A |
| Materials on site (if allowed) | + B |
| Less retention (e.g. 10%) | − (A + B) × 10% |
| Less previously certified | − C |
| Less advance recoupment | − D |
| Amount due this application | = net |
Assessing percent complete
- Measured items: by actual quantity installed / total quantity.
- Lump-sum items: by milestone or by inspected physical progress — not by time elapsed or cost spent.
- Agree the assessment with the client’s representative before submitting.
Tracking to completion
A live progress-billing tracker shows earned value, the S-curve versus plan, and the remaining balance per line — the basis for forecasting the final account.
EngEst Pro’s Progress Billing tracker builds the schedule of values from your BOQ, records % complete per item per period, and computes earned amounts, retention, total to date, and balance remaining with a live progress bar.
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