Glossary entry (derived from question below)
Spanish term or phrase:
relación valorada de obra
English translation:
schedule of values
Added to glossary by
tazdog (X)
Jun 19, 2009 11:44
14 yrs ago
16 viewers *
Spanish term
United Kingdom
relación valorada de obra
Spanish to English
Bus/Financial
Accounting
Construction Activity
Las sociedades del Grupo siguen como método de reconocimiento de resultados para los contratos de obra, dentro del criterio general del porcentaje de realización establecido por la adaptación del Plan General de Contabilidad a las empresas constructoras, el denominado “relación valorada de obra” que consiste en la valoración de las unidades de obra ejecutadas a los precios establecidos en contrato.
Este método se puede llevar a la práctica por la existencia en todos los contratos de:
• una definición de todas y cada una de las unidades de obra que es necesario ejecutar para completar la totalidad de la misma;
• la medición de cada una de estas unidades de obra y
• el precio al que se certifica cada una de estas
I don't recall coming across this before and I cannot think of anything much for this, except "work valued at contract price", but it doesn't sound quite right. Any ideas? It appears in the annual accounts of a Spanish construction company. Ideally GB English please.
Este método se puede llevar a la práctica por la existencia en todos los contratos de:
• una definición de todas y cada una de las unidades de obra que es necesario ejecutar para completar la totalidad de la misma;
• la medición de cada una de estas unidades de obra y
• el precio al que se certifica cada una de estas
I don't recall coming across this before and I cannot think of anything much for this, except "work valued at contract price", but it doesn't sound quite right. Any ideas? It appears in the annual accounts of a Spanish construction company. Ideally GB English please.
Proposed translations
(English)
| 4 | schedule of values |
tazdog (X)
|
| 4 +1 | list of works valued at contract prices |
MikeGarcia
|
| 4 | sales value of work completed |
patinba
|
| 4 | Earned value |
argosys
|
| 3 | work valuation list |
AlexMiranda
|
Change log
Jun 25, 2009 09:36: tazdog (X) Created KOG entry
Proposed translations
18 hrs
Selected
schedule of values
Hi Nikki,
I have this term in my personal glossary as "schedule of values", as I've had it come up in a text I had to translate. "Bill of quantities" is apparently used for bidding/tendering and "schedule of values" seems to be more for payments. As "relación valorada" is also what is submitted for payment (your def. says its the value of "unidades de obra ejecutadas"), I think "schedule of values" is what you need.
More info. on "relación valorada": http://books.google.es/books?id=uKK-kGkVU0AC&pg=PA250&lpg=PA...
The Schedule of Values is a detailed statement furnished by a construction contractor, builder or others outlining the portions of the contract sum. It allocates values for the various parts of the work and is also used as the basis for submitting and reviewing progress payments.
http://en.wikipedia.org/wiki/Schedule_of_values
Sample schedule of values: http://www.fpm.iastate.edu/planning/contractors/data/Sample ...
More info. on "schedule of values": http://books.google.es/books?id=JtLvnBMDzNgC&pg=PA378&lpg=PA...
Info. on bill of quantities:
A bill of quantities (BOQ) is a document used in tendering in the construction industry in which materials, parts, and labor (and their costs) are itemized. It also (ideally) details the terms and conditions of the construction or repair contract and itemises all work to enable a contractor to price the work for which he or she is bidding.
http://en.wikipedia.org/wiki/Bill_of_quantities
bill of quantities (BOQ) - Bidding document prepared usually by a quantity surveyor, it is an itemized list of materials, parts, and labor (with their costs) required to construct, maintain, or repair a specific structure.
http://www.businessdictionary.com/definition/bill-of-quantit...
This doc. contrasts the two:
SCHEDULE OF VALUES. After review of the tentative schedule at the preconstruction conference, and before submission of the first application for payment, the Contractor shall prepare and submit to the Ministry Representative five copies of a schedule of values covering each lump sum, unit price, and provisional sum item.
The schedule of values, showing the value of each kind of work, shall be acceptable to the Ministry Representative before any application for payment is prepared. The unit price and provisional sum items submitted in Contractor's Bill of Quantities shall be listed in the schedule of values.
http://209.85.229.132/search?q=cache:BqGmM6or4DQJ:www.struc-...
I have this term in my personal glossary as "schedule of values", as I've had it come up in a text I had to translate. "Bill of quantities" is apparently used for bidding/tendering and "schedule of values" seems to be more for payments. As "relación valorada" is also what is submitted for payment (your def. says its the value of "unidades de obra ejecutadas"), I think "schedule of values" is what you need.
More info. on "relación valorada": http://books.google.es/books?id=uKK-kGkVU0AC&pg=PA250&lpg=PA...
The Schedule of Values is a detailed statement furnished by a construction contractor, builder or others outlining the portions of the contract sum. It allocates values for the various parts of the work and is also used as the basis for submitting and reviewing progress payments.
http://en.wikipedia.org/wiki/Schedule_of_values
Sample schedule of values: http://www.fpm.iastate.edu/planning/contractors/data/Sample ...
More info. on "schedule of values": http://books.google.es/books?id=JtLvnBMDzNgC&pg=PA378&lpg=PA...
Info. on bill of quantities:
A bill of quantities (BOQ) is a document used in tendering in the construction industry in which materials, parts, and labor (and their costs) are itemized. It also (ideally) details the terms and conditions of the construction or repair contract and itemises all work to enable a contractor to price the work for which he or she is bidding.
http://en.wikipedia.org/wiki/Bill_of_quantities
bill of quantities (BOQ) - Bidding document prepared usually by a quantity surveyor, it is an itemized list of materials, parts, and labor (with their costs) required to construct, maintain, or repair a specific structure.
http://www.businessdictionary.com/definition/bill-of-quantit...
This doc. contrasts the two:
SCHEDULE OF VALUES. After review of the tentative schedule at the preconstruction conference, and before submission of the first application for payment, the Contractor shall prepare and submit to the Ministry Representative five copies of a schedule of values covering each lump sum, unit price, and provisional sum item.
The schedule of values, showing the value of each kind of work, shall be acceptable to the Ministry Representative before any application for payment is prepared. The unit price and provisional sum items submitted in Contractor's Bill of Quantities shall be listed in the schedule of values.
http://209.85.229.132/search?q=cache:BqGmM6or4DQJ:www.struc-...
4 KudoZ points awarded for this answer.
Comment: "Many thanks everyone for your help with this. "
7 mins
AlexMiranda
Brazil
Brazil
Native in English
Specializes in field
Brazil
Legal and Business Specialist
Native in: Portuguese 
, English
Works in: Portuguese to English, English to Portuguese, Spanish to English
Related KudoZ points
:
8
work valuation list
It seems that they are breaking down steps in the construction process and valuing each one individually, according the the bullet point steps that you listed.
24 mins
sales value of work completed
This is the income statement revenue heading according to an accounting manual dealing with construction.
--------------------------------------------------
Note added at 26 mins (2009-06-19 12:10:54 GMT)
--------------------------------------------------
CIMA Learning System 2007 Financial Accounting and Tax Principles - Resultado de la Búsqueda de libros de Google
de Tom Rolfe - 2006 - Business & Economics - 704 páginas
Accounting for construction costs affects a number of headings in the income statement Q and balance sheet: u 2 1 . Sales value of work completed is ...
books.google.com.ar/books?isbn
--------------------------------------------------
Note added at 26 mins (2009-06-19 12:10:54 GMT)
--------------------------------------------------
CIMA Learning System 2007 Financial Accounting and Tax Principles - Resultado de la Búsqueda de libros de Google
de Tom Rolfe - 2006 - Business & Economics - 704 páginas
Accounting for construction costs affects a number of headings in the income statement Q and balance sheet: u 2 1 . Sales value of work completed is ...
books.google.com.ar/books?isbn
+1
27 mins
MikeGarcia
Spain
Spain
Native in Spanish
Specializes in field
Spain
LAWYER+FORMER BANKER+FINANCIAL EXPERT+
Native in: Spanish 
Works in: English to Spanish, French to Spanish, Spanish to English
Related KudoZ points
:
143
list of works valued at contract prices
Hi, Nikki. If you read carefully through the surrounding context, they are defining the term in the sentence which follows it, that is "...la valoración de las unidades de obra ejecutadas a los precios establecidos en contrato".
"Relación" in this context and in Spain's Spanish means "list,inventory,account" and you can confirm it in the AVH Legal, page 908, "relación2".
"Relación" in this context and in Spain's Spanish means "list,inventory,account" and you can confirm it in the AVH Legal, page 908, "relación2".
Peer comment(s):
| agree |
Rachel Spencer
: It's quite late, but this is the answer that has most helped me. I think schedule of values is misleading.
376 days
|
19 hrs
Earned value
This is rather tough to discuss in the literal sense. I have studied and written several papers on project management, and the closest term I can find in this context is "Earned Value."
Earned value management may be described in the following quotes:
<Earned value management requires a detailed, bottoms-up performance plan, measurement taken against one's own plan, and a periodic forecast of the final expected results, based on actual performance results. Earned value requires detailed measurement against the project plan. In order to employ earned value, there must be a plan in place that allows the continuous measure of seven points of data. This may sound complicated and cumbersome, but it is not. It is simply the kind of data most projects have, but it may not be looked at in quite the same way. Earned value has a focus on its percent complete position against its (100 percent) defined scope.>
http://www.stsc.hill.af.mil/crosstalk/1999/07/fleming.asp
As an an illustration of the application of the Earned Value concept:
<We need to determine (2) the budgeted value of the work scheduled. We were authorized $100,000 per unit, so our budgeted value for work scheduled was $300,000. Thus, we have set our planned value for the first three months of the project at $300,000.
Next we will want to measure our earned value for the reporting period. To measure this we need two new points of data, which we will call items (3) and (4).
As of the reporting period, (3) how much of our scheduled work have we actually accomplished? We examine our PMS and find that we have accomplished two of the three units we originally scheduled.
Next, (4) what is the budgeted value of the work actually performed? In this case we were authorized $100,000 per unit, so our earned value for the reporting period is $200,000. (Never mind actual costs at this point, they will only confuse the issue.) Thus, items three and four constitute our earned value for the period (ibid).>
Hope this is able to at least enlighten.
--------------------------------------------------
Note added at 19 hrs (2009-06-20 07:43:11 GMT)
--------------------------------------------------
Earned value management requires a detailed, bottoms-up performance plan, measurement taken against one's own plan, and a periodic forecast of the final expected results, based on actual performance results. Earned value requires detailed measurement against the project plan. In order to employ earned value, there must be a plan in place that allows the continuous measure of seven points of data. This may sound complicated and cumbersome, but it is not. It is simply the kind of data most projects have, but it may not be looked at in quite the same way. Earned value has a focus on its percent complete position against its (100 percent) defined scope.
http://www.stsc.hill.af.mil/crosstalk/1999/07/fleming.asp
The concept of Earned Value may be applied as in the following illustration.
We need to determine (2) the budgeted value of the work scheduled. We were authorized $100,000 per unit, so our budgeted value for work scheduled was $300,000. Thus, we have set our planned value for the first three months of the project at $300,000.
Next we will want to measure our earned value for the reporting period. To measure this we need two new points of data, which we will call items (3) and (4).
As of the reporting period, (3) how much of our scheduled work have we actually accomplished? We examine our PMS and find that we have accomplished two of the three units we originally scheduled.
Next, (4) what is the budgeted value of the work actually performed? In this case we were authorized $100,000 per unit, so our earned value for the reporting period is $200,000. (Never mind actual costs at this point, they will only confuse the issue.) Thus, items three and four constitute our earned value for the period. (ibid)
Hope this helps.
--------------------------------------------------
Note added at 20 hrs (2009-06-20 07:45:06 GMT)
--------------------------------------------------
Sorry, the information I posted (twice, in fact) failed to register.
--------------------------------------------------
Note added at 10 days (2009-06-29 12:37:17 GMT) Post-grading
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Earned value management requires a detailed, bottoms-up performance plan, measurement taken against one's own plan, and a periodic forecast of the final expected results, based on actual performance results. Earned value requires detailed measurement against the project plan. In order to employ earned value, there must be a plan in place that allows the continuous measure of seven points of data. This may sound complicated and cumbersome, but it is not. It is simply the kind of data most projects have, but it may not be looked at in quite the same way. Earned value has a focus on its percent complete position against its (100 percent) defined scope.
http://www.stsc.hill.af.mil/crosstalk/1999/07/fleming.asp
--------------------------------------------------
Note added at 10 days (2009-06-29 12:37:55 GMT) Post-grading
--------------------------------------------------
Earned value management requires a detailed, bottoms-up performance plan, measurement taken against one's own plan, and a periodic forecast of the final expected results, based on actual performance results. Earned value requires detailed measurement against the project plan. In order to employ earned value, there must be a plan in place that allows the continuous measure of seven points of data. This may sound complicated and cumbersome, but it is not. It is simply the kind of data most projects have, but it may not be looked at in quite the same way. Earned value has a focus on its percent complete position against its (100 percent) defined scope.
http://www.stsc.hill.af.mil/crosstalk/1999/07/fleming.asp
--------------------------------------------------
Note added at 10 days (2009-06-29 12:38:16 GMT) Post-grading
--------------------------------------------------
Earned value management requires a detailed, bottoms-up performance plan, measurement taken against one's own plan, and a periodic forecast of the final expected results, based on actual performance results. Earned value requires detailed measurement against the project plan. In order to employ earned value, there must be a plan in place that allows the continuous measure of seven points of data. This may sound complicated and cumbersome, but it is not. It is simply the kind of data most projects have, but it may not be looked at in quite the same way. Earned value has a focus on its percent complete position against its (100 percent) defined scope.
http://www.stsc.hill.af.mil/crosstalk/1999/07/fleming.asp
Earned value management may be described in the following quotes:
<Earned value management requires a detailed, bottoms-up performance plan, measurement taken against one's own plan, and a periodic forecast of the final expected results, based on actual performance results. Earned value requires detailed measurement against the project plan. In order to employ earned value, there must be a plan in place that allows the continuous measure of seven points of data. This may sound complicated and cumbersome, but it is not. It is simply the kind of data most projects have, but it may not be looked at in quite the same way. Earned value has a focus on its percent complete position against its (100 percent) defined scope.>
http://www.stsc.hill.af.mil/crosstalk/1999/07/fleming.asp
As an an illustration of the application of the Earned Value concept:
<We need to determine (2) the budgeted value of the work scheduled. We were authorized $100,000 per unit, so our budgeted value for work scheduled was $300,000. Thus, we have set our planned value for the first three months of the project at $300,000.
Next we will want to measure our earned value for the reporting period. To measure this we need two new points of data, which we will call items (3) and (4).
As of the reporting period, (3) how much of our scheduled work have we actually accomplished? We examine our PMS and find that we have accomplished two of the three units we originally scheduled.
Next, (4) what is the budgeted value of the work actually performed? In this case we were authorized $100,000 per unit, so our earned value for the reporting period is $200,000. (Never mind actual costs at this point, they will only confuse the issue.) Thus, items three and four constitute our earned value for the period (ibid).>
Hope this is able to at least enlighten.
--------------------------------------------------
Note added at 19 hrs (2009-06-20 07:43:11 GMT)
--------------------------------------------------
Earned value management requires a detailed, bottoms-up performance plan, measurement taken against one's own plan, and a periodic forecast of the final expected results, based on actual performance results. Earned value requires detailed measurement against the project plan. In order to employ earned value, there must be a plan in place that allows the continuous measure of seven points of data. This may sound complicated and cumbersome, but it is not. It is simply the kind of data most projects have, but it may not be looked at in quite the same way. Earned value has a focus on its percent complete position against its (100 percent) defined scope.
http://www.stsc.hill.af.mil/crosstalk/1999/07/fleming.asp
The concept of Earned Value may be applied as in the following illustration.
We need to determine (2) the budgeted value of the work scheduled. We were authorized $100,000 per unit, so our budgeted value for work scheduled was $300,000. Thus, we have set our planned value for the first three months of the project at $300,000.
Next we will want to measure our earned value for the reporting period. To measure this we need two new points of data, which we will call items (3) and (4).
As of the reporting period, (3) how much of our scheduled work have we actually accomplished? We examine our PMS and find that we have accomplished two of the three units we originally scheduled.
Next, (4) what is the budgeted value of the work actually performed? In this case we were authorized $100,000 per unit, so our earned value for the reporting period is $200,000. (Never mind actual costs at this point, they will only confuse the issue.) Thus, items three and four constitute our earned value for the period. (ibid)
Hope this helps.
--------------------------------------------------
Note added at 20 hrs (2009-06-20 07:45:06 GMT)
--------------------------------------------------
Sorry, the information I posted (twice, in fact) failed to register.
--------------------------------------------------
Note added at 10 days (2009-06-29 12:37:17 GMT) Post-grading
--------------------------------------------------
Earned value management requires a detailed, bottoms-up performance plan, measurement taken against one's own plan, and a periodic forecast of the final expected results, based on actual performance results. Earned value requires detailed measurement against the project plan. In order to employ earned value, there must be a plan in place that allows the continuous measure of seven points of data. This may sound complicated and cumbersome, but it is not. It is simply the kind of data most projects have, but it may not be looked at in quite the same way. Earned value has a focus on its percent complete position against its (100 percent) defined scope.
http://www.stsc.hill.af.mil/crosstalk/1999/07/fleming.asp
--------------------------------------------------
Note added at 10 days (2009-06-29 12:37:55 GMT) Post-grading
--------------------------------------------------
Earned value management requires a detailed, bottoms-up performance plan, measurement taken against one's own plan, and a periodic forecast of the final expected results, based on actual performance results. Earned value requires detailed measurement against the project plan. In order to employ earned value, there must be a plan in place that allows the continuous measure of seven points of data. This may sound complicated and cumbersome, but it is not. It is simply the kind of data most projects have, but it may not be looked at in quite the same way. Earned value has a focus on its percent complete position against its (100 percent) defined scope.
http://www.stsc.hill.af.mil/crosstalk/1999/07/fleming.asp
--------------------------------------------------
Note added at 10 days (2009-06-29 12:38:16 GMT) Post-grading
--------------------------------------------------
Earned value management requires a detailed, bottoms-up performance plan, measurement taken against one's own plan, and a periodic forecast of the final expected results, based on actual performance results. Earned value requires detailed measurement against the project plan. In order to employ earned value, there must be a plan in place that allows the continuous measure of seven points of data. This may sound complicated and cumbersome, but it is not. It is simply the kind of data most projects have, but it may not be looked at in quite the same way. Earned value has a focus on its percent complete position against its (100 percent) defined scope.
http://www.stsc.hill.af.mil/crosstalk/1999/07/fleming.asp
Discussion
Earned value management requires a detailed, bottoms-up performance plan, measurement taken against one's own plan, and a periodic forecast of the final expected results, based on actual performance results. Earned value requires detailed measurement against the project plan. In order to employ earned value, there must be a plan in place that allows the continuous measure of seven points of data. This may sound complicated and cumbersome, but it is not. It is simply the kind of data most projects have, but it may not be looked at in quite the same way. Earned value has a focus on its percent complete position against its (100 percent) defined scope.
http://www.stsc.hill.af.mil/crosstalk/1999/07/fleming.asp
http://books.google.co.uk/books?id=XiaDaHHhtBEC&pg=PA1&lpg=P...
www.proz.com/.../2167585-relacion_valorada.html - En caché - Páginas similares