Schedule of values tab
As you work on a contract, you often need to see the quantity or value of a line item claimed against a component, so you can progress the contract. A component is used in InEight Plan and InEight Progress to divide a cost item into manageable and identifiable parts, so they are easy to track. The schedule of values lets you see the totals claimed by a component. You can also use the totals to reconcile a vendor invoice with the contract line items.
The Schedule of Values tab shows the details of line item parts. Each part is made up of a description, schedule quantity, unit of measure, unit price, schedule value, and WBS code. You can choose whether to have the schedule item available to use in Plan and Progress or to hide it from those applications. The Schedule of values page lists all of the schedule items for the contract. A warning shows if the schedule value exceeds the Net price of the line item.
The Contract discipline (Project Settings > Assigned disciplines and commodities) must be set to Available to send schedule of value items to Plan.
Quantity and value in the schedule of values
The schedule of values can help you track values and quantities of line items. If you want to track only the value of a line item, you can create a value-only schedule item. A value-only schedule item can include positive, negative, or zero value but have zero quantity, so you can track and claim value without entering a quantity.
Add a schedule of values
To add a schedule of values, click the Add schedule of value icon on the Schedule of values tab.
Add schedule item
When you add a new schedule item, the Add schedule of value slide-out panel opens, where you can fill in the pertinent information for the schedule item.
| Field | Function | |
|---|---|---|
| 1 | Contract line item ID | Select the line item associated with the schedule of value item. |
| 2 | Description | Free text entry field to describe what the schedule of value item is. |
| 3 | Schedule quantity | The total quantity of the item. When this field is enabled, the quantity must be greater than zero. |
| 4 |
UoM |
Select the unit of measure for the schedule of value item. The unit of measure can be different from the unit of measure for the line item. |
| 5 | Unit price | The unit price, in the currency of the contract, of the schedule of value item. The unit price is automatically calculated when the schedule value or schedule quantity is updated. A negative number can be entered for the unit price when an item has a negative value. |
| 6 | Schedule value | Contract calculates the schedule value based on the quantity and unit price. |
| 7 | Value only | Select the Value only check box to create a value-only schedule item. Checking this box disables the Schedule quantity and Unit price fields. Also, the Hide in plan and progress field is set to Yes and then disabled. |
| 8 | WBS code | The WBS code assigned to the line item. |
| 9 | Hide in plan and progress |
Select the box to hide the schedule item from Plan and Progress. Deselect the box to track the schedule item as a contract component in Plan. If an item has a value other than zero in Plan and Progress, you cannot deselect this check box. If you have made a mistake and need to deselect the check box, you must go to Plan or Progress, and then edit the item there. After it is edited, you can deselect the check box. A schedule item that is hidden in Plan and Progress can be claimed directly from Contract. When the check box is not selected, any changes made to the vendor in the contract details are automatically updated in Plan. |
| 10 | Custom fields | The contract-level custom fields. |
You can also add a schedule of value item from the Line items register. Any line item type can be copied. To copy a line item from the Line items register to the schedule of values, select the line item, and then expand the Copy icon. You can then select To schedule of values. A notification shows that the line item has been added to the schedule of values. The following columns are copied with the line item:
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Line Item ID
-
Description
-
UoM
-
Quantity
-
Unit Price
-
WBS code
-
Custom fields
The Hide in Plan/Progress field in the schedule of values defaults to Yes. You must manually fill in the remaining fields. The line item is automatically associated to the schedule of values.
When you copy a limit line item to the schedule of values, the Value only check box is automatically checked and disabled. The unit of measure defaults to a value of PLS.
If the line item had been deleted or closed, the line item is copied, but the line item ID is left blank.
You can use the import and export feature to set up and maintain a large schedule of values.