What is the Budget Screen?
A project's Budget page includes all its internal cost data. The rows in the table on this page represent cost codes and project items that have been added to a project (via Specs & Selections, Pre-Con services, or Change Event).
Who does it impact?
The Procurement team is responsible for buying out a project’s cost codes for less than or equal to the budgeted amount, and the ConOps team is responsible for building a home within the budgeted amount. Both teams can use the Budget screen to understand the budgeted amount for each cost code, how we are tracking towards each cost code, and if there are any opportunities to reduce budget in any cost code.
Columns on the Budget Screen:
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Original (BOYL) / Underwritten (BOOL) - The estimated costs from the Prime Agreement (Pre-Con or Construction) with the Homeowner / PropCo
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Awarded - The budgeted cost before the project is bought out or committed
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Change Events - The sum of all accepted Change Events for the table row
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Non-Chargeable Change Events - The sum of all non client billable change events for the table row
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Chargeable Change Events - The sum of all costs from client billable change orders for the table row
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Budget Reallocations - A Budget Reallocation simply moves budgeted cost from one line item/cost code to another.
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Proposed Change Events - A proposed change event captures an estimated amount to be included in the budget, while leaving the change event editable so that it can be updated before it is accepted.
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Revised Internal Budget - The sum of the Original/Underwritten and Change Events columns
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Revised External Budget - The sum of the Underwritten/Original and Chargeable Change Events columns
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Committed - The sum of all signed commitments for the table row
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Uncommitted - The difference between the Revised Internal Budget and Committed columns
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Trade Paid to Date - The sum of all approved bills or expenses for the table row
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Unpaid Commitments - The sum of unbilled amounts from existing commitments for the table row
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Projected - The sum of the Revised Internal Budget and Proposed Change Events columns
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