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What is the Budget Forecast Report?

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**Note: This report is only available when Procore's "Budget" tool is not being used. When the Budget tool is being used, the Budget tool itself serves the purpose of this report. For more information on Procore's budget tool, see Budget tutorials

Procore's Budget Forecast tool provides a breakdown of the budget and costs of a project organized by cost code. Additionally, it allows you to forecast the Cost to Complete.

Navigate to the tool by clicking the "Budget Forecast Report" link on the Prime Contract in the Prime Contract, Commitments, or Reports tab. The report is divided into 3 sections: Prime Contract, Commitments, and Forecast.

  1. Prime Contract:
    • Original Budget: Prime Contract Schedule of Values
    • SOVs Current Budget: Original Budget plus any Approved Prime Contract Change Orders
    • Projected Budget: Original Budget plus the Current Budget and any Pending Prime Contract Change Orders
    • Anticipated Budget: projected Budget plus any Draft Prime Contract Change Orders
  2. Commitments:
    • Committed Costs: Approved Commitments plus Approved Commitment Change Orders
    • Uncommitted Costs: Pending Commitments, meaning the difference between the budgeted amount and what has been committed 
    • Pending Commitments: Pending Commitment Change Orders
    • Projected Costs: Committed Cost plus Uncommitted Costs and Pending Commitments
    • Anticipated Costs: Projected Costs plus all Draft Commitments and Draft Commitment Change Orders
  3. Forecast:
    • Modification: An editable column that allows you to better forecast Cost to Complete. Once values are entered, Procore will automatically save these values
    • Projected Over/Under: Projected Budget plus the Modification minus the Projected costs
    • Anticipated Over/Under: Anticipated Budget plus the Modification value minus Anticipated costs
       

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Last modified
09:19, 12 Aug 2016

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