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View or Edit Markup Estimates on Change Event Line Items

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Objective

To add or edit financial markup estimates on change event line items with revenue ROM. 

Background

The 'Revenue ROM' feature in Procore is designed to reflect the potential impact of a change event on your project's budget before your team creates a change order. With this feature, Procore uses the value in the 'Revenue ROM' column to automatically calculate the estimated markup.

If you have the required user permissions, you can also apply a setting in the Configure Settings page of the project's Change Events tool to specify the prime contract's markup settings to use for estimating markup as follows:

  • You can select which prime contract to use to estimate markup on all new change events.
  • You can copy the prime contract setting to estimate markup on all existing change events.

Things to Consider

  • Required User Permissions:
    • To edit any change event or Change Events configurations, 'Admin' level permissions on the Change Events tool.
      OR
    • To edit only the change events you created, 'Standard' level permissions on the Change Events tool.

Steps

Add Estimated Markup to a Single Change Event

  1. Navigate to the project's Change Events tool.
  2. Locate the change event to work with. 
  3. Click the Edit button next to that change event. 
  4. In the 'General' tab, under 'General Information' scroll down to the Prime Contract (For Markup Estimates) drop-down list.
  5. Select the appropriate prime contract from the drop-down list. 
  6. Click Save. 

Add Estimated Markup to All of the Change Events on a Project

  1. Navigate to the project's Change Events tool.
  2. Click Configure Settings icons-settings-gear.png.
  3. Click Copy to Existing Change Events to copy the markup settings from the default Prime Contract (This is the first Prime Contract on your project when sorted by number then title).
  4. Click Confirm.
     NoteS 

Edit Financial Markup (Vertical) Estimate on a Change Event

Note: A Prime Contract for Markup Estimates must be selected on a change event before markup can be edited on individual line items. See Add Estimated Markup to a Single Change Event.

  1. Navigate to the project's Change Events tool. 
  2. Locate the change event with the financial markup (vertical) to be edited and click its number to view the change event. 
  3. Click the value being edited in the markup section of the change event.
    2023-06-01_14-46-17.png
  4. Click Manual markup and enter a new markup amount.
    2023-06-01_14-52-55.png
  5. Changes are saved automatically once you click outside of the experience. 
 Important notes!
  • If you manually enter a markup value, it will no longer stay updated with the prime contract's markup settings.

    • To reapply the contracted financial markup to the change event line items, the user must remove the current financial markup from the change event then complete the steps list here: Add Estimated Markup to a Single Change Event.

Creation of Prime Contract Change Orders from Change Events with Edited Markup
  • When users create a Prime Contract Change Order from a change event with the edited financial markup, the Prime Contract Change Order will inherit the edited financial markup percentages entered on the change event.
  • Only vertical markup can be edited on a change event
  • There are some scenarios where edited financial markup in change events will not be able to pass to the Prime Contract Change Order due to complexity and the possibility of conflicting markup rules and logic. 
  • In the following scenarios, the user will have to edit the change order markup in the Prime Contract Change Order Schedule of Values.
    Note: Edited markups will remain in the change event, but the new Prime Contract Change Order will use the selected prime contract markup rules
    • When multiple change events are used to create a change order.
    • When adding change event line items to an existing Prime Contract Change Order with markup logic already applied
    • Creating a new Prime Contract Change Order from a change event where the selected prime contract conflicts with the change events 'Prime Contract for Markup Estimates' field