Details
Key features include the ability to:
- Configure ‘Budget ROM’ options in the 'Configure Settings' page of the project's Change Events tool
- Add new source columns and create new calculated columns for use in a Procore Budget View
- Create a new budget change that is automatically linked to a system-created change event from Procore's Budget tool
- View budget change detail in the Budget tool
- Create a budget change from a change event using the new 'Financial Impact' card
- Extra columns on the Change Events table in the Line Items tab for participants in the Modernised Change Events beta program
- Configure Change Event auto-creation from Budget Change in the 'Configure Settings' page of the Budget tool
Configure ‘Budget ROM’ options in the 'Configure Settings' page of the project's Change Events tool
Procore has a 'Budget ROM' section with three (3) drop-down lists for 'Budget ROM for In-Scope,' 'Budget ROM for Out of Scope,' and 'Budget ROM for TBD Scope.' These settings allow an administrator to define the business logic that Procore uses to automatically populate the 'Rough Order of Magnitude' value in the 'Budget ROM' column, which helps you gauge the impact of a given change on your project's budget. For each available Budget ROM scope, an administrator can choose from these options: Latest Cost, Latest Price, and None.
Example
Below are the new 'Budget ROM' configuration options in the 'Configure Settings' page of the Change Events tool.Add new source columns and create new calculated columns for use in a Procore Budget View
Your company's Procore Administrator has the option to add new source columns and to use those columns to create new calculated columns, so you can view your budget change adjustments' impact in your project's Budget tool. To learn how to add these new columns, see Add the Columns for the Budget Changes Feature to a Budget View.
Example
Below is a look at how the columns appear when a budget view has been updated to include budget changes columns, and is assigned to the view in the project's Budget tool. To learn how to add these new columns, see Add the Columns for the Budget Changes Feature to a Budget.
Create a new budget change that is automatically linked to a system-created change event from Procore's Budget tool
Users can create new budget changes using the 'Create New Budget Change' page. After saving a new budget change, Procore automatically creates a new change event in the Change Events tool and links it to the budget change. You can also edit and delete budget changes from the project's Budget tool, as well as include an unlimited number of one- or multi-line item adjustments in each budget change. This is an efficient way to record both net-zero ($0) and/or non-net-zero ($0) changes in your budget.
Example
Below is the 'Create New Budget Change' page in the project's Budget tool.
View budget change detail in the Budget tool
A detail pop-up window lets you view the details of your project's budget changes.
Example
Below is an example of the Budget Changes detail pop-up window in the Budget tool.
Create a budget change from a change event using the new 'Financial Impact' card
When creating a change event for a client contract, funding, or head contract, you can now include the 'Budget ROM' financial impact for Out of Scope change events to show the latest impact on your project's budget.
Example
Below is the 'Financial Impact' card, included in the Create New Change Event page in the Change Events tool.
Extra columns on the Change Events table in the Line Items tab for participants in the Modernised Change Events beta program
When you create a budget change in the Budget tool, Procore adds an automatically-created change event line item that links to the budget change. There are also columns to the far right side of the change events table to show the 'Budget ROM,' 'Budget Change,' and the 'Latest Budget Impact' values for your change event line item(s). In addition, the value in the 'Budget ROM' column can be set to update the source for the column using an Automatic, Quantity x Unit Cost, or Manual entry.
Example
Below are the new 'Budget ROM,' 'Budget Change,' and the 'Latest Budget Impact' columns in the Change Events tool.
You can also edit the line to update the Budget ROM value using the options in the new 'Budget ROM Source' window.
Configure Change Event auto-creation from Budget Change in the 'Configure Settings' page of the Budget tool
This is a configuration setting on the Budget tool where users with admin permissions can "Require a Budget Change Adjustment to Change Event Association". With this setting enabled, Budget Changes will be required to have an associated Change Event.