COST TRACKING

Change Order Tracker in Excel

Change orders are where budgets quietly drift. A simple running log that compares the original contract to every approved change keeps that drift visible instead of discovered at project close-out.

1
Record the original contract value.
Put this in a labeled cell at the top of the sheet, e.g. B1, so every formula below can reference it.
2
Log each change order as a row.
Columns: CO Number, Description, Date Submitted, Status (Pending/Approved/Rejected), and Amount (use negative numbers for credits/deductions).
3
Sum only approved change orders.
=SUMIF(StatusColumn,"Approved",AmountColumn) — this ignores pending or rejected COs so your running total only reflects money actually committed.
4
Calculate the revised contract value.
=$B$1+SUMIF(...) gives you original contract plus approved changes — the number that should match what you're actually invoicing against.
Add a "% of Original Contract" column using =RunningTotal/$B$1 — many owners and GCs start asking questions once cumulative change orders cross 5–10% of the original contract value, so this flags that threshold automatically.

Keeping this updated in real time — not retroactively at the end of the job — is what actually prevents scope creep from becoming a dispute at closeout.

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