Schedule of Values - If not using a GMP or Stipulated Sum contract?
Hello,
What if your're an Architect working on a project that is very large using a (Cost + Plus Fee with out a GMP) delivery method. This delivery method does not require the use of a Schedule of Values when working with the General Contractor to complete Application for Payments. Does anyone know what the Architect would do in this scenario?
Thank you for your help.
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The architect would just verify the actual construction costs. And then add the % fee. It would be much simpler than trying to check the schedule of values and verifying that the contractor has completed 50% of the work, and if they are billing for 50%.
The only 'trick' would be making sure that the owner isn't paying for any items that are not included in the contract.
Hope this helps!
Rebekka O'Melia, B.Arch, M. Ed, Registered Architect, NCARB, Step Up ARE Coaching
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