Converting BOQ to SOV Import Template
Last Updated: September 6, 2024
A Schedule of Values (SOV) is a crucial document used to allocate and track the value of various work components or items within a contract. It helps to keep track of progress and ensure accurate billing throughout the project. In this article, we will guide you to set up your Schedule of Values
Access your Project Dashboard to start the process
Within your project, click on Modules
Click on Accomplishment Report
In the Accomplishment Report section, click on Download Template. The download will start shortly after.
Open the downloaded template and click on Enable Editing to make changes
Input the necessary information. Refer to figure 5 for transferring values from BOQ to SOV template.
Optional Value: Contract Package Optional Information:
Item Number must be a unique identifier and should always have a value.
Calculating Values. If any of the three essential components (Total Cost, Planned Quantity, or Unit Price) are not specified on your BOQ, you can use the following formulas to calculate the missing value:
Total Cost = Planned Quantity x Unit Price
Planned Quantity = Total Cost / Unit Price
Unit Price = Total Cost / Planned Quantity
Planned Percent Weight = Line Item Total Cost / Project Cost
Ensure all Planned Percent Weight value sum up to 1 or 100%
Item Categories: These are broad classifications that group similar items together.
Item Numbers: These are unique identifiers assigned to each individual item within a category. They should be sequential and comprehensive to ensure accurate tracking and reporting.
Item Relationship or Hierarchy. When an item in the Bill of Quantities (BOQ) serves as a parent to other items, clearly indicate this hierarchical relationship in the Description field. For example, if 'Floor Preparations' is a parent category to 'Civil Works,' specify this in the Description field.
Once you have entered all the required data, save the SOV template
Return to the Accomplishment Report section and click on Import File to upload your SOV template.
Click on OK to finish the set up.
Managing Accomplishment Report Module
Viewing the Accomplished Tasks
Reviewing and Approving Accomplishment Reports
Navigating Accomplishment Report via Steer Mobile app
Submitting an Accomplishment Report
SOV Setup
Need more help? Send us an email at cs@steerplatform.com, or send us a message on the chat widget.
Schedule of Values
A Schedule of Values (SOV) is a crucial document used to allocate and track the value of various work components or items within a contract. It helps to keep track of progress and ensure accurate billing throughout the project. In this article, we will guide you to set up your Schedule of Values
Converting BOQ to SOV Import Template
Step 1: Setting up template
Access your Project Dashboard to start the process
Within your project, click on Modules
Click on Accomplishment Report
In the Accomplishment Report section, click on Download Template. The download will start shortly after.
Step 2: Inputting Values to the Template
Open the downloaded template and click on Enable Editing to make changes
Input the necessary information. Refer to figure 5 for transferring values from BOQ to SOV template.
Optional Value: Contract Package Optional Information:
Item Number must be a unique identifier and should always have a value.
Calculating Values. If any of the three essential components (Total Cost, Planned Quantity, or Unit Price) are not specified on your BOQ, you can use the following formulas to calculate the missing value:
Total Cost = Planned Quantity x Unit Price
Planned Quantity = Total Cost / Unit Price
Unit Price = Total Cost / Planned Quantity
Planned Percent Weight = Line Item Total Cost / Project Cost
Ensure all Planned Percent Weight value sum up to 1 or 100%
Step 2.1: Detail Explanation of BOQ to SOV transformation
Item Categories: These are broad classifications that group similar items together.
Item Numbers: These are unique identifiers assigned to each individual item within a category. They should be sequential and comprehensive to ensure accurate tracking and reporting.
Item Relationship or Hierarchy. When an item in the Bill of Quantities (BOQ) serves as a parent to other items, clearly indicate this hierarchical relationship in the Description field. For example, if 'Floor Preparations' is a parent category to 'Civil Works,' specify this in the Description field.
Step 3: Saving template
Once you have entered all the required data, save the SOV template
Return to the Accomplishment Report section and click on Import File to upload your SOV template.
Click on OK to finish the set up.
RELATED ARTICLES:
Managing Accomplishment Report Module
Viewing the Accomplished Tasks
Reviewing and Approving Accomplishment Reports
Navigating Accomplishment Report via Steer Mobile app
Submitting an Accomplishment Report
SOV Setup
Need more help? Send us an email at cs@steerplatform.com, or send us a message on the chat widget.
Updated on: 26/09/2024
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