Budget Settings

Project administrators can control several Cost Management settings within the Budget settings tab:

  1. Click Module Selector .

  2. Select the Services tab.

  3. Select Cost Management in the left panel.

    Note: If you enter Project Admin directly from Cost Management, you start in this position.

  4. The General secondary tab is selected by default. Switch to the Budget tab.

Budget Code Format

Build up your budget code format, following the guidelines in the Budget Code Setup article. The budget code segments must be defined before importing a budget into Cost Management.

See the Budget Code Setup article to learn how to:

Budget Name Format

Select one or more budget segment descriptions as the default name of new budgets.

When you rename budget segments, delete them, or change the order in the Budget Code Segments setting, the default names will also change.

Budget Overview Columns

Project administrators can manage the name, group, and order of existing columns. They can also create custom columns calculated on project values or other columns.

To manage existing columns and create custom calculated budget columns, click Manage.

To change where existing columns appear (group and position), rename them and control which appear by default. Select the column name and choose the desired option beneath the list view.

To learn more about managing custom columns, see the Create Custom Columns article. See the Budget and Contract Tables article to understand the logic behind those tabs in Cost Management.

Budget Lock

Once the original budget setup is finalized, toggle the On button to lock it.

Important: Once enabled, this option is irreversible. A locked budget can only be edited by project administrators.

After a budget is locked, the quantities, units, unit costs, and ratios of the forecast are also locked. However, with the Forecast tab, you can still:

Tip: As an account administrator, you can also lock the budget with integration. See the Lock Fields and Actions with an Integrated ERP System article to learn what else can be locked and how it affects Cost Management's workflows.

Allow Internal Budget Transfer

Turn on to enable members to make an internal budget transfer from the budget summary view.

Main Contract Schedule of Values

Show change orders in the main contract as line items or a column. Individuals can toggle this view in the main contract, but this selection sets the default view. See the Main Contract article for more information.

You can toggle this view for:

To do so:

  1. Expand the Main Contract Schedule of Values section.
  2. Select As Line Items or As a Column using the radio button.

Main Contract Types

A main contract is the primary contractual agreement entered into directly, for example, between an owner and a main contractor. When creating a new main contract, you can choose your main contract type from the predefined options or add one in the settings to fit your company's needs.

Choose from the presented options:

Tip: System defaults cannot be deleted. You can deactivate them, so they do not show up in the user interface.

To add a new main contract type, click Add in the upper left corner of the Main Contract Types.

To assign a contract type to a line item by a drop-down list, enter the edit mode in the Main Contract tab.

To learn how to create a contract, see Work with Contracts.

Budget Payment Application Approval Workflows

Project administrators can create custom approval workflows for budget payment applications. This allows you to automate the routing of documents for internal review and keep the consistency and transparency of company-defined processes across projects. Learn more about approval workflows.

Tip: You can also create approval workflows for cost-related items.

Document Templates

Create standard main contract and budget payment application template formats using fields that automatically populate with data. See the Create and Manage Document Templates article for more information.

Dates for Main Contract and Budget Payment Application

You can define a default value for dates and choose to have them displayed on the home page. This will help you manage the schedule in Cost Management. To do so, open the More menu and click Edit.

Note: Items without the More menu can't be displayed on the home page and can't be edited.

If applicable, you can choose the default value for the date. Use the relative date option for cases where an activity is relative to the date of another activity (e.g., creating a procurement schedule). The relative date option is only available for editable system-generated dates and custom dates.

Tip: You can create relative dates for custom attributes and custom columns.

Available document variable examples are shown by clicking Show More. You can use those to prepare a document templates.

Custom Attributes

Create custom attributes for the details panels within budget items, main contract items, and budget payment applications in Cost Management. See Custom Attributes for more information.

Default Email Message

Customize the default email message for budget payment applications submitted for review.

Parent page: Manage Cost Management Settings