What is the purpose of the Schedule of Values in relation to pay requests?

• A. To determine the final price after project completion.
• B. To break down the contract sum by activity to support progress payments as work is completed.
• C. To assign responsibilities to subcontractors.
• D. To determine insurance requirements.

Answer: (B)

The Schedule of Values serves to break down the contract sum by activity or line item so that progress payments can be tied to what has actually been completed. Each item has a stated value, reflecting the amount earned for that portion of work. When the contractor submits a pay request, it references this schedule, and the architect or engineer uses it to verify that the requested payment corresponds to the completed work. This keeps payments aligned with progress, helps prevent over- or underpayment, and allows for updates if the scope or costs change during the project. It is not used to determine the final price at project end, nor to assign subcontractor responsibilities or insurance requirements.