Macropod,
I followed your suggestions by qualifying the rng object, activedocument etc., ran it and I'm happy to say it is getting very close to what I want. However, I must admit I don't think I made my requirements quite clear enough in the beginning but I think if you can re-tweak the code slightly to meet the following conditions I will be good.

1. If the first word of a paragraph is "Drafted" do Nothing. Don't touch the paragraph.

2. If (the first word of a paragraph IS NOT "Drafted") and (the first word of the same paragraph IS NOT "Exceeded") then apply the bullet ChrW(61623). **NOTE: Bullet should be on/or closest to page margin but distance between the bullet and the paragraph should be about 0.5 inch. Also, the paragraph font.bold = true

3. If the first word of a paragraph is "Exceeded" then apply the hollow circle bullet "O" . NOTE**: Bullet should be 1 inch from page margin but distance between the bullet and the paragraph should be about 0.5 inch. Also the paragraph font.bold = false

4. In any case do not change the current paragraph.spacesafter or spacebefore setting between any two paragrapghs

Thanks in advance. This is so close!
Jay