Budget / Contract Change Record

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.

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 is used to 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) is used to change only the budgeted quantity of a cost item or account.
• Budget / Contract Change is used to 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) is used to modify the contract unit price or total price of a pay item.

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