1-866-477-6267 (toll-free)
Support Home > Products > Procore > Procore User Guide > Project Level > Budget > Tutorials > Set up a Budget

Set up a Budget

Objective

To create a project's budget in Procore by either creating one from scratch or importing a compatible CSV file. 

Things to Consider

Steps

Add a Budget

Although most users will prefer to upload an existing budget that was created outside of Procore, you can build a budget and all of its line items directly in the Budget tool. 

Go to the project's Budget tab.

  • Upload a Budget - See Import a Budget CSV for more detailed instructions.
  • Create a Budget - Add line items manually.

Review and Edit the Budget

Take time to properly review the details of your budget and make any necessary adjustments before you lock it down so that it's no longer editable and you're ready to start the project.

Lock the Budget

Once you have completed your final adjustments to the budget and are ready to lock it down so that it becomes the official budget for the current project, you can safely lock your budget. 

When you lock a budget, the "Original Budget" data column is no longer editable in order to preserve the "Original Budget" values. Once a budget is locked, changes can only be made via Change Orders or Budget Modifications, which will give you an accurate historical record of all changes and their impact to the project's original budget. As a result, you will have a clear understanding of how the original budget iteratively evolved into the current budget over time.

Please note that a budget does not have to be locked in order to associate commitments and change orders to the budget line items. However, it's strongly recommended that the budget is locked before proceeding with these activities however to ensure that the correct cost codes will be available for use. 

Next Steps

Now that your Budget is established, you can start writing commitments against it and can set up your Prime Contract. 

 

You must to post a comment.
Last modified

Tags

Classifications

This page has no classifications.