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Create a Funding Variation from a Change Event

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Objective

To create a Funding Variation from a change event.

Background

If the Change Events tool is enabled on your project, your project's variation tier configuration setting (see What are the different variation tier settings in Project Financials?) determines the number of steps leading up to creating a funding variation.

 Tips

Are you inviting your downstream collaborators to submit tenders for goods and services using formal RFQs? 

If your project team has opted to use Procore's Request for Quote (RFQ) process (see Create RFQs from a Change Event), you do NOT have to wait until the RFQ process is complete to create your funding variation. However, after invited collaborators respond to RFQs and its status is set to 'Pending Final Approval,' Procore does automatically update the variation's Schedule of Values (SOV) with the appropriate amounts from the RFQ.

To learn more about how the RFQ process affects funding variations, see What are the different RFQ statuses and how do they affect cost and variation amounts?

Are you using the Revenue ROM function?

If your project team has opted to use the Revenue ROM function, the SOV on your funding variation is also automatically updated. If you have hidden the Revenue ROM function, any automatic updates depend upon the scope of the change event:

  • When change events are 'In Scope' or 'TBD', the variation's schedule of values is automatically updated with a $0 value. 
  • When change events are 'Out of Scope', the variation's schedule of values is automatically updated using the data in the RFQ. This update occurs when the RFQ status is set to 'Pending Final Approval.' 
  • When change events are not in one of the above statuses, the variation's schedule of values is automatically updated using the 'Cost ROM'. 

 

Things to Consider

  • Required User Permissions:
    • 'Standard' or 'Admin' level permissions on the project's Change Events tool.
      AND
    • 'Standard' or 'Admin' level permissions on the project's Funding tool.
       Notes
      For users with 'Standard' level permissions on the project's Funding tool to perform this task, the following must also be true:
  • Required Configuration Setting:
  • Additional Information:
    • After you create a change event, you can also create an RFQ to send to the affected collaborator(s). See Create RFQs.'
  • If your company has enabled the ERP Integrations tool, keep these items in mind:
    • QuickBooks® Desktop: 
      • Funding variation exports are NOT supported.
    • Sage 100 Contractor®:
      • Funding variation exports are NOT supported.
    • Sage 300 CRE®:
      • Title. The variation title must be 30 characters or less. 
      • Number (#). The variation number be five (5) characters or less. 
      • Status. The funding must be in the Approved status.
      • Associated Line Item. For each line item that you add to the variation's Schedule of Values (SOV), you may designate one (1) associated line item for each variation line item or the same associated line item for all variation line items. Note: The Associated Line Item list is only visible and available when the ERP Integrations tool has been configured to work with Sage 300 CRE® and the export head contract variations capability has been switched on in Procore by your Integration Implementation Specialist.
    • Integration by Procore:
      • Funding variation exports are NOT supported.
    • Viewpoint® Vista™:
      • Funding variation exports are supported.

Prerequisites

Steps

  1. Navigate to the project's Change Events tool.
  2. Select one or more change event line items to include in the new variation.
     Note
    Procore uses the selected line items to populate the variation's schedule of values. 
  3. From the Bulk Actions drop-down menu:
    • For one (1) tier variations, choose Create Funding VAR. 
      OR
    • For two (2) or three (3) tier variations, choose Create Funding PV.
  4. Complete the following:

    • #
      Accept the default number, enter a new number or create a custom numbering scheme for this variation and future ones. 

    • Revision
      If you revise a variation later, you can enter the revision number here.

    • Title
      Enter a descriptive name here. 

    • Status
      Select the current status of the variation. Procore automatically places the variation in the 'Draft' status. To learn more, see What are the default statuses for variations in Procore?

    • Private
      Mark this checkbox if you want the item to be private. This means it is only visible to users with 'Admin' level permissions on the contract (or funding). 

    • Due Date
      Select a due date to indicate the date by which the 'Designated Reviewer' must approve or reject the variation. 

    • Progress Claimd Date
      Select the date when the variation was progress claimd. 

    • Designated Reviewer

      Select the Procore user at your organisation who is responsible for approving or rejecting the variation. To appear as a selection in this list, the designated reviewer's Procore user account must be added to the Project Directory and have 'Standard' level permissions or higher to the contract or funding tool. See Add a User Account to the Project Directory. 

    • Paid Date
      Select the date that payment was received for the variation.

    • Reviewer
      This field is blank on a new variation. After the 'Designated Reviewer' approves or rejects the variation, that person's name appears here. 

    • Review Date
      This field is blank on a new variation. After the 'Designated Reviewer' approves or rejects the variation, the date the person submits their response appears here. 

    • Description
      Enter a more detailed description of the variation. 

    • Program Impact
      If this variation is expected to impact the construction project's program, enter the estimated number of additional days this would add to the program. 

    • Executed
      Mark this checkbox after the variation is fully executed.

    • Potential Variations
      If the tool is configured for two (2)-tier variations, select any potential variations related to this variation from this drop-down list.  See Configure the Number of Variation Tiers on a Project Financials Tool.

    • Attachments
      Add any relevant document or image as a file attachment. You can attach multiple files using these methods:

      • Click Attach File(s) and select the files to add from your computer or another Procore tool.
        OR
      • Use a drag-and-drop operation on your computer to add the file attachments to Procore. 
  5. Click Create. Procore creates the variation.