Version 1.0 How To: Manage THD Budgets: - Create New Project Budget - How would I create subsequent budgets? - Create Report to Compare Budgets - How is the Budget Versions Comparison Report Printed?
How to Manage THD Budgets What are the budget categories used by THD? o There are four budget types: PSA, REEC, DD, and Final Deal. Budget tips o Budget line item comments are added to and saved in the Budget Reports. This allows for documentation of variations in the budgets. o Quantity descriptors can be added by single clicking on a budget line item which brings up the Detail screen. The drop down box associated with the Qty Type allows you to pick the desired descriptor. o While budget line items may be added to the budget at any time we recommend that you add budget line items first, save your budget, and then add quantity and unit cost data. o Numbers may not be changed once the budget is locked. Don t lock the budget until all the numbers in the budget are finalized and approved. o If one or more budget line items change in a locked budget then you would open the budget and click on the Make New Version button. You can then change numbers as needed in the new version. Step One Create New Project Budget 1. Log into Expesite Access the Internet site https://www.expesite.com. Type in your assigned User Name and Password. If you don t have a User Id and Password send an email request to Support@Expesite.com.
2. Click on My Projects Your screen may be a little different than the one presented based on your user preferences. In all cases you will be able to select the My Projects. 3. Select the project for which you want to create a budget. All projects to which you have access will be displayed in the My Projects Microsoft Internet Explorer Screen. You may you re a project from the list or use the search facility and type in a part of your project name. For the purposes of this How to Guide, we will use the OH Webex Street project for our examples. Single click on the project for which you want to create a budget.
4. Select the Real Estate big button. Single click the Real Estate button. This will take you to the Real Estate Dashboard. 5. Select the Budget button. Single click the Budget button in the upper right hand corner.
6. Select the New Budget button. Since there are no budgets created for this project yet, the New Budget button appears in the upper middle part of your screen. Note that the project you selected (OH Webex Street) is indicated in the upper left part of the screen. Single click on the New Budget button in the upper right hand corner. 7. Look at the Copy Budget Template line. 8. Select, by the drop down box arrow, the New Build Budget Template. The template name may be prefaced with a date that indicates when that template version was created. 9. Select the Do It Now button. THD has budget templates to save time creating your budgets. You would: - Click on the drop down box arrow on the Copy Budget Template line. - Find the New Build Budget Template - Single click on the New Build Budget Template. This template name will then be listed. - Select the Do It Now button. Note: Clicking on the last Do It Now will copy a budget for another project.
10. Enter the budget version s name (PSA, REEC, DD, or Final Deal) 11. Click Save (Note: The city s name will be entered later). You would enter the name of the budget (we will call our budget PSA ) on the Budget Name line and then Select the Save button. 12. Select the budget you just created. Single click on the budget PSA.
13. Select Maintain Project Budget under the Plan big button. This is accomplished by single clicking on the hot link listed as Budget. 14. Choose Configure Budget The button is found in the upper left part of your screen. Single click the Configure Budget button. Note: This step renames toe overall budget.
15. Rename the budget according to project name in Expesite (i.e. match the example name in this case which is OH Webex Street ). 16. Select Save Changes You need to rename your budget to exactly match the name of your project. Once you type in the new budget name and single click Save Changes then you are ready to start entering your budget numbers. 17. Start entering line item amounts (Note: If you input data into the detail budget items then any data in the summed fields will be overridden since it produces the sum of all detailed line items. 18. After entering all line item amounts, click Save. Begin entering the quantity and unit costs into the displayed budget. The detailed line item costs will automatically sum and roll up to the parent budget categories. Good practices: - Add any desired new budget items. - Enter budget information. - Don t lock the budget if line items will change. - Remember to Save your work prior to exiting the system. 19. Total column on budget shows calculations of the inputted quantity and unit costs. Grand Total may be found on the bottom of the spreadsheet.
20. When all your budget numbers are entered, Save your work one last time. The Save button is found at the bottom on the budget page. 21. Single click on the OH Webex Street (PSA) Budget Name in the upper right hand corner. You will see two OH Webex Street selections on the screen. Ensure you click on the tab indicated on the screen to the right. If not you will return to the project site.
22. Single click on the Budget History that is found under the Report big button. This will take you to the Budget History screen. 23. Single click the Add History Note. This will take you to the Add Budget History Item page. Indicate that you would like it to be reviewed.
24. Type in your message indicating that the budget is ready for review and then single click on the Add and Notify button. This will take you to the Notify Users screen. 25. You would review the screen and click each user that you would like to review the budget. Typically this will be your construction manager and director. 26. Single click on the Send button. An email will be sent to each person whose name is checked when you select the Send button.
27. The system then notifies you that your emails were sent with the following screen. You should single click the Close button. 28. You will be taken back to the budget screen where your message will now be displayed. You will now be able to see your recently added budget note and the person that added this message. 29. Any reviewer, this will typically include the construction manager and director, will access the budget, review the numbers, and agree that they are correct. The reviewer will approve the numbers. The reviewer will complete the same steps (steps 22 through 28 above) which documents their approval.
30. The budget owner will return to the budget screen and lock the budget. Single click the Lock button and the budget will be locked. Numbers in this budget may no longer be changed. 31. The budget owner then notifies the real estate manager that the budget is approved.
Step Two How would I create subsequent budgets? 1. On the budget page select either the Lock and Make New Version or the Make New Version button. Single click the Make New Version button to create a new budget. This could be either to track a budget between project phases (i.e. PSA, REEC, etc.) or to create a version within a phase (i.e. PSA, PSA ver 1, PSA ver 2, etc.) Note: Remember when you lock a budget the numbers within that budget may not be changed. You could create a PSA Version 1 budget to account for changes once the PSA budget is locked. 2. Name the budget. Note that in the box to the right we have copied the previous budget and all associated information to a new budget called DD for due diligence. We made a note in the Budget History box that will be added to the project s history. We would then single click the Save button to save the new budget. We would then be taken to a new budget named DD.
3. Make changes to the new budget and obtain the required approvals and submit to the Real Estate Manager (steps 22 through 31) in Step One above apply. Note that you are in your new budget by looking and seeing that DD is in the Select View display. At this point you can edit all quantify and unit cost information that applies to this budget. Don t lock the budget until all numbers are finalized. The Save button is at the bottom of this screen. Save frequently. Step Three Create Report to Compare Budgets 1. Click on your budget name (first tab in the budget area). Single click on your budget name.
2. You will go to the Budget Home Page (contains the big buttons Plan, Bid, Track, and Report ). 3. Under the Report button click on Budget Versions Comparison Report. By single clicking the Budget Versions Comparison hot link, you will navigate to the Reports page that allows you to do budget comparisons. While you can list multiple budget versions and variances, our example will compare two budgets and the variance between them. 4. This is the default Budget Versions Comparison Report. This report continues to the right (lack of room) and includes the three budgets for this project that have been created PSA, REEC, and DD. Single Click the Choose Budget Versions button.
5. At this point we select the budgets that we want to compare. By using the drop down arrows we: - Exclude the REEC - Show DD in the 1 column - Show PSA in the 2 column. Click Save to continue. 6. Click on the icon in the last column that is associated with the respective line item to which you want to add a column. Note that the changes that were previously selected can now be viewed: - DD in column 1, PSA in column 2, and no REEC. Unchecked the $/SqFt and % of Total boxes because only budget and variance information is desired. Select Show Columns to enact changes. Clicked on the Paper Stack icon on the Land Acquisition Cost line item, typed in my comment to the Comparison Note box, and selected Save.
Step Four How is the Budget Versions Comparison Report printed? To print the Budget Versions Comparison Report you should first: o Created the budgets that you wish to compare. o Added all desired Comparison Notes. 1. Select the Print Options button. Single click on the Print Options button. 2. Check the Variance box. 3. Select the budgets you want to compare from the two drop down boxes to the right of the Variance check box 4. Select Okay Insert a check in the Variance box. Select DD and PSA as the budgets to compare. Leave the other boxes checked or not as they default. Select OK.
5. Select Print View. This temporary screen appears telling you that the information that you requested is being collected and formatted in the Budget Versions Comparison Report format. 6. 6. You are able to print or save the report at this point by selecting the correct icon. Report Options: To save to your hard drive or network drive, click on the diskette icon. To print, click on the printer icon. To save to an Expesite Folder: - Name the report - Select the Save to Document button. - If this is your selection continue to the next step.
7. Select THD file folder into which you d like to save this report. Single click on the folder into which you would like to save the file. In this example we are saving Report Comparison View Enhanced (see previous screen shot) to Expesite Folder A2.1 Deal Summary. Then single click Copy. You will get a message that says Your document has been saved.