View General Conditions Insights

Portfolio Level Insights

1. Navigate to Account Home tool. The General Conditions card displays in the side panel.
2. Click View All Projects. A view similar to the following provides insights on financial risk on general conditions funds across all of your projects.
3. Click on the project name to see the project level insights [see below].

Project Level Insights

1. Navigate to the Project Home or Budget tool. The General Conditions card displays in the side panel.

2. Click View details. A view similar to the following provides insights on financial risk on general condition funds.

The general conditions insights include:

• Risk of overspending - calculated based on historical data from your similar projects to forecast your potential to overspend on your general condition funds.
• Estimated funds at project end - general condition funds in US dollars forecast to be remaining at the end of the project.
• Burn rate chart - plots actual and projected general condition burn rate against your internal benchmark based on historical data from your projects of the same type and similar budget amount.
• Spending changes - lists the five general condition line items with the highest changes in actual costs.
• Project type - shows the project type used to create the internal benchmark for similar project types and budget amount. You can edit the project type for the current project directly in project level insights. See Update General Project Information. Any changes made to project type will take up to 24 hours to be reflected in the insight.
• Project dates - displays the start and end dates for the project as defined in the Project level Admin tool. You can change the start and end dates directly in project insights.
• Cost codes - shows the general condition line items being tracked. Assumes you are tracking general condition line items in divisions 0 - 01 within the Budget tool. You can customize which cost codes are included in general conditions. See Configure Cost Codes for General Conditions Insights. Any cost code with the words “profit”, “contingency”, or “fee” are removed, as those are not standard general conditions items and tend to skew the calculations.

Where does a benchmark come from?

To see a benchmark on an active project, a company must have at least two completed projects that are the same project type and within the same budget range, and that meet the following criteria:

• Must have a start and end date entered in the Admin settings, and duration must be  >3 months
• Minimum of $15,000 allocated to general conditions
• A current overall budget greater than $0
• Direct costs entered in the Direct Costs tool that are greater than $0
• Must have a project type associated with it
• These next two criteria are used to remove outliers:
  • Overall General Conditions spend (sum of direct costs and commitment invoices) is between 50% to 200% of the General Conditions budget.
  • When dividing the project duration into 10 equal parts, must have logged costs in at least six of them, and no single project tenth can have more than 70% of the total spend.

The general conditions budgets and spend for those completed projects are used to generate the internal benchmark range on the similar active project.

Why do I not see a benchmark?

To see a benchmark, a project must have at least two completed projects that meet data requirements and are of the same project type and in the same budget range as the project in question. If a project is missing a project type or dates, these fields can be updated. See Batch Enter Missing Project Information. Once project type and/or dates are entered, a project still may not see any insights if there aren’t two completed projects that meet the data requirements.

How is risk level determined?

Our risk calculator uses historical data from your similar projects to forecast¹ your potential to overspend on your general condition funds. 

• High risk indicates your forecasted spend is greater than your approved budget.
• Medium risk indicates your forecasted spend is 95-100% of your approved budget.
• Low risk indicates your forecasted spend is 95% or less of your approved budget.

(1) Any forecasts or other insights provided by Procore Insights are for informational purposes only and are not a guarantee that any given event will occur.

How is project duration determined?

Procore Insights uses the start and end date fields you selected in the project’s Admin settings. The "Actual Start" and "Projected Finish" dates are given priority, but if either is left blank, then the "Start Date" or "Completion Date" will be used.

Why do I not see a burndown chart?

In order to see a burndown chart, one of two conditions must be met:

• Either direct costs or commitment invoices have occurred against General Conditions codes in at least two separate months so that a line can be drawn.
• A project has a budget and a benchmark, which will create a forecasted future spend line.