View or Edit Markup Estimates on Change Event Line Items
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 variation. 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 main contract's markup settings 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 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.
- To edit any change event or Change Events configurations, 'Admin' level permissions on the Change Events tool.
Steps
- Add Estimated Markup to a Single Change Event
OR - Add Estimated Markup to All of the Change Events on a Project
OR
Add Estimated Markup to a Single Change Event
- Navigate to the project's Change Events tool.
- Click the Summary tab.
- Locate the change event to work with.
- Click the Edit button next to that change event.
- In the 'General' tab, under 'General Information' scroll down to the Main Contract (For Markup Estimates) drop-down list.
- Select the appropriate main contract from the drop-down list.
- Click Save.
Add Estimated Markup to All of the Change Events on a Project
- Navigate to the project's Change Events tool.
- Click Configure Settings
. - 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.
- Click Copy to Existing Change Events.
- Click Confirm.
NoteS
- 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
Beta Edit Financial Markup Estimate on a Change Event
Note: A Main 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.
- Navigate to the project's Change Events tool.
- Locate the change event with markup to be edited.
- Click the value being edited in the markup section of the change event.
- Click Manual in the box next to the markup.
Note: Click Connect to return the markup to the value from the connected Main Contract. - Enter a new markup percentage or a specific amount.
- Changes are saved automatically.
Note
- If you manually enter a markup value, it will no longer stay updated with the Main Contract's markup settings.
- Variations will inherit the manually entered markup estimate values entered on a change event. If multiple change events are used to create a variation and they each have different markup rules, the Main Contract's default markup settings will apply (Example: Lines from one change event that has edited markup and another with the default markup settings are both used to create a single variation)