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Project Financials: New 'Procore Labor Productivity Cost' Budget View

This announcement represents a single point in time. Future releases may impact the information below.
Feature Announced: June 24, 2020  /  Feature Released: July 14, 2020


Project Financials: New 'Procore Labor Productivity Cost' Budget View

Procore users now have access to a new 'Procore Labor Productivity Cost' view in the Company Admin tool's list of standard budget views. Building off the Real-Time Labor Productivity update released earlier in 2020, this new view provides Procore customers using Procore's Project Financials and Field Productivity tools with the ability to gain greater insight into your project's production rates to make better decisions that maximize profit margins.  With this release, you can:

  • Add and import production units to a project's budget in Procore's Financial Management tools:  Budget, Change Events, and Change Orders.
  • Collect production units from field personnel with Timecard Entries in the Timecards and Timesheets tools.
  • Track and compare budgeted production units to installed production units using Procore's Budget and Reports tools.

The 'Procore Labor Productivity Cost' budget view update is a follow-up release to a series of productivity enhancements.  For information about these releases, see Project Financials: Enhancements for Unit-Based FinancialsProject Financials: Consistent & Custom Units of Measure, and Project Financials: Real-Time Labor Costing with Field Productivity.

Workflow

Common Questions

What are 'production quantities'?

Production quantities are a measurable amount of work on a construction project. For example, cubic yards of concrete, number of light fixtures or linear feet of piping. In Procore, there are two types of production quantities:

  • Budgeted production quantities refers to the measurable amount a team plans to install on a project.
  • Installed production quantities refers to the actual amount installed on a project by a point in time.
 Important
If Procore's icon-external-link.png Field Productivity tools under 'Workforce Management' are enabled on your company's Procore account, the Work Breakdown Structure's custom segment objects and features are not yet supported. To learn more, see Are custom segments compatible with Procore's Field Productivity tools?

 

Who can use the 'Procore Labor Productivity Cost' budget view?

To use the 'Procore Labor Productivity Cost' budget view,  your Procore company account must be using Procore's Field Productivity and Project Financials tools. For setup instructions, see Set Up the Procore Labor Productivity Cost Budget View. The image below shows you the new view when its applied to the Budget tool. 

budget-procore-labor-prod-cost-view.png

How does the 'Procore Labor Productivity Cost' budget view work?

With the new 'Procore Labor Productivity Cost' view, you can:

Can we sync production quantities with the ERP Integrations tool? 

For companies using the ERP Integrations tool, the production units in Procore do not sync with your integrated ERP system. Currently, the sync is amount-based only and you would need to manually enter the units in both Procore and in your intergrated ERP system. Customers using third-party accounting integrations on the Procore App Marketplace will have access to the public API endpoints. 

Want to learn more?

View a recorded webinar, hosted by Procore's Strategic Product Consultant (SPC) team on July 10, 2020, where we review the new Labor Productivity Cost budget view in Project Financials. Register now to watch the recording on-demand.

See Also

If you would like to ask questions or share any feedback, please contact support@procore.com