To set up a capital plan in Portfolio Financials and Capital Planning.
When you set up a Capital Plan, you can compare costs across any number of past projects at the overall project level, all the way down to a specific line item on the Schedule of Values.
There are two different options for setting up a Capital Plan: adding a new allowance, or adding a new project. The key difference between the two is that a new project will immediately show on the Dashboard, while an allowance is only visible within the capital plan itself.
Common use cases for allowances include:
- Projects that will occur in future years that you do not want mixed with current-year projects on the Dashboard.
- Expenses that are not considered projects, such as lease commissions.
- Any “buckets of money” that might be deployed for unplanned projects
Things to Consider
- Required User Permissions:
- 'Building Admin' or 'Company Admin' in Portfolio Financials and Capital Planning.
- Additional Information:
- This feature requires the Capital Planning product added on to your organization's account in Portfolio Financials. Please reach out to your Procore point of contact with any questions.
- Capital Plans are organized by building.
- From the Dashboard, click the Planning tab.
- Select the relevant building from the building drop-down menu.
- Click Add Line Item.
- Follow the steps below, depending on whether you want to add an allowance or add a new project to set up the Capital Plan.
Note: The main difference between the two is that a new project will immediately show on the Dashboard, while an allowance is only visible within the Capital plan itself.
To add an allowance:
- From the Add Line Item drop-down menu, select Add New Allowance.
- Enter an Allowance Name and Allowance Type. The allowance information can be edited later on and eventually converted into a project.
Tip! You can include job codes or other information in the allowance name to help you easily find the allowance later.
- Click Add.
To add a new project:
- From the Add Line Item drop-down menu, select Add New Project.
- Enter the necessary information for the project.
Note: The project name, type, and target start and end dates fields are required.
- Click Add.
- After the project is added, you can begin entering planned spend year-over-year within the Capital Plan, or click into the project itself to begin building a more detailed budget. See Edit a Capital Plan in Portfolio Financials and Capital Planning and Add a Budget to a Project in Portfolio Financials.