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Add Financial Markup Lines with Revenue ROM to Change Events

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Objective

To add financial markup lines with 'Revenue ROM' to a change event. 

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 variation. With this feature, Procore uses the value in the 'Revenue ROM' column to automatically calculate the estimated markup. You can choose which main contract to use for estimating markup at the time you create or edit a change event.

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 main contract to use for estimating markup as follows:

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

Things to Consider

  • Required User Permissions:
    • To edit any change event, '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. Click the Summary tab. 
  3. Locate the change event to work with. 
  4. Click the Edit button next to that change event. 
  5. In the 'General' tab, under 'General Information' scroll down to the Main Contract (For Markup Estimates) drop-down list.
  6. Select the appropriate main contract from the drop-down list. 
  7. Click Save. 

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

 Note
Once initiated, this process may take several minutes or longer (i.e., for projects with many line items or markup lines), during which the Change Events tool will be unavailable.
  1. Navigate to the project's Change Events tool.
  2. Click Configure Settings icons-settings-gear.png.
  3. Select the main contract with the markup settings that you want to apply to all of your existing change events in the Default “Change Event Main Contract (For Markup Estimates)” for the New Change Events list.
     Note
    If you decide to use the markup settings from a different main contract, you must re-number the main contract you choose so it has the lowest number.
  4. Click Copy to Existing Change Events.
  5. Click Confirm.
     NoteS
    • The 'Main Contract (For Markup Estimates)' field is set to the selected main contract on all change events. 
    • Markup is calculated using the Revenue ROM values based on the markup settings defined for the main contract. See Add Financial Markup to Main Contract Variations.
 In Beta

Edit Financial Markup Estimate on a Change Event

 Note
  • If you manually enter a markup value, it will no longer stay updated with the Main Contract's markup settings.
  • Editing the Revenue ROM will reconnect the markup with the Main Contract and override the manually input values.
  1. Navigate to the project's Change Events tool. 
  2. Locate the change event with markup to be edited. 
  3. Click the value being edited in the markup section of the change event.
  4. Click Manual in the box next to the markup.
    Note: Click Connect to return the markup to the value from the connected Main Contract.
  5. Enter a new markup percentage or a specific amount.
  6. Changes are saved automatically.