What is the 'Budget ROM' column in Procore's Budget tool?
Limited ReleaseNote to users participating in the 'Budget Changes' limited release program. The information below details a feature available to Procore users taking part in the limited release for Budget Changes. For more information about this release, see Budget: New 'Budget Changes' Feature for Change Management in Project Financials. Procore will be working with Procore customers to migrate from budget modifications to the Budget Changes feature by October 16, 2023.
If your project's Budget tool contains a 'Budget ROM' column, this column was manually added to a Procore budget view and then assigned to your Procore project by your company's Procore Administrator. This is the only way for the 'Budget ROM' column to be visible in your project's Budget tool. The 'Budget ROM' column was designed to work with Procore's 'Budget Changes' feature and it requires the Budget and Change Events tools on your project.
The 'Budget ROM' column allows you to preview the potential financial impact (a.k.a., Rough Order or Magnitude) that a potential change might have on your project's budget. This provides value for project teams that want insight into whether a variation has a positive or negative impact on your financial line items, before the variations associated with those items are finalised.
Procore calculates the value in the 'Budget ROM' column based on the 'Scope' values of your project's change events and, depending on your 'Budget ROM' settings in the Change Events tool, they can be configured to reflect Cost or Revenue.