Perform Budget Moves


Use Case

The project controller receives an update that the labor costs for the Grading team have increased. She applies a portion of the contingency budget to several Grading cost items to account for the change.

This section covers budget moves from one cost item to another which do not impact the total project budget (net zero moves).

workflow for current topic

As changes to the project arise, you have several options for making updates to the Current Budget. This topic focuses on budget moves which add no additional budget to the total project budget (net zero moves). For information on budget changes based on a contract adjustment, see Manage Changes to Current Cost and Revenue Budgets.

Follow the steps below to see an example of a net-zero budget move.

Step 1

The project controller is ready to modify the cost item for topsoil installation by moving some of the contingency budget.

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Step 2

From the Actions menu, she selects Budget move and contract adjustment > Budget move.

Step 3

In the Budget move – Details step, she selects Non-Associated. This initiates a non-associated budget move workflow.

Note: A Non-Associated budget move is a quick way to complete a budget move. To define changes with a From and To process to provide ultimate traceability, select Associated.

Step 4

Under Assign amounts, she clicks the Add icon.

She selects the cost items for this budget move, then clicks Add.

Step 5

The values for the selected cost items are listed in the window. Since she is adding budget to the Topsoil Install cost item, she inputs the adjusted quantities in the labor cost and construction equipment cost fields.

Step 6

For Contingency, she inputs a negative amount in the Adjusted CB cost field.

Note that the adjusted CB cost is automatically calculated for the Topsoil Install cost item based on the values she added for labor and equipment.

Step 7

With the adjusted values totaling $0.00, she clicks Submit.

 

On the Change Register tab, the project controller can see the pending budget move.

The team member who approves budget changes (for example, a project manager) can open the item for review.

Once approved, the prices and current budget are updated in the Current Budget.


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