Budget / Contract Changes

After a project has been released for execution and the Original and Current Budgets are created, the Original Budget is locked and the only way to change the Current Budget or add a pay item is to add a Change Record on the Budget / Contract Changes Register.

The Budget / Contract Changes Register is used to track and review all changes in the project, and it provides an instantly available report of the current status of any change. Changes can be categorized and annotated to facilitate easy searching, sorting and filtering. Only changes with a status of Approved are reflected in the Current Budget.

There are two Change Record Types that can be created on the Budget / Contract Changes Register:

• Cost Item record type is used to add a Change Record based on a cost item. This option is used when tracking job progress by CBS Code or Phase Code on the Job Properties - Job Tracking form.
• Account record type is used to add a Change Record based on an account. This option is used when tracking job progress by Account Code on Job Properties - Job Tracking form.

There are two Change Record Creation options:

• Create a Change record from scratch is used to add a Change Record manually. The four types of changes that can be added manually are listed below.
• Create Change records automatically is used to automatically capture changes already made to the Current Estimate. These records are created based on the differences between the Current Estimate and the Current Budget, and they can be created to capture any combination of Quantity changes, Man-Hour changes, and Cost changes.

Four change types can be entered, edited, and approved on the Change Record:

There are four types of changes that can be entered, edited, and approved on the Change Record, and each type serves a different purpose and requires a different work flow:

• Budget Move: move budgeted cost among terminal cost items or accounts, without changing the overall budget total. The sum of the changes must equal zero in order for this change to be approved.
• Budget Change (Quantity only): change only the budgeted quantity of a cost item or account.
• Budget / Contract Change: modify budgeted costs, quantities and man-hours of cost items or accounts, and contract total price and quantities of pay items. Pay items can also be added using this type of change.
• Contract Change (Price only): modify only the contract unit price or total price of a pay item.

After a Change Record is created, you can change the status to Revise, Delete, Reject or Approve.

The Budget / Contract Changes Register is used to track and review all changes in the project, and it provides an instantly available report of the current status of any change. Changes can be categorized and annotated to facilitate easy searching, sorting and filtering. Only changes with a status of Approved are reflected in the Current Budget.

The Change Record is used to enter the change information for a cost item or account and allows you to drill down to any cost category.

The Budget / Contract Changes Register is read-only, and it cannot be modified. All changes must be added or modified in the Change Record.

After the project has been released for execution, the Original Budget is locked and the only way to change the Current Budget or add a pay item is to add a Change Record.

Step by Step — Opening a Change Record

After saving an approved record, it will be reflected in your Current Budget.