Extra value (EV) is an additional allowance added to the cost or rate of a task or item to compensate for a known condition that makes the work more costly than the standard rate assumes.
Standard rates and outputs are based on normal working conditions. Where a known condition will affect productivity or resources, an extra value is added rather than the base rate being altered, so that the reason for the adjustment is clear and auditable. Examples include:
- working at height or in confined spaces;
- restricted access, out of hours working or working in an occupied building;
- small quantities or awkward shapes that reduce productivity.
In UK measurement and pricing, similar allowances are often dealt with as extra over items or as adjustments to labour outputs. The abbreviation EV should not be confused with earned value in project controls.
Related terms: Extra Over, Labour Constant, Unit Rate.
