diff --git a/app/helpers/budgets_helper.rb b/app/helpers/budgets_helper.rb
index 8cff4b72b..b4a207ed6 100644
--- a/app/helpers/budgets_helper.rb
+++ b/app/helpers/budgets_helper.rb
@@ -68,4 +68,16 @@ module BudgetsHelper
     return unless current_budget.present?
     MapLocation.where(investment_id: current_budget.investments).map { |l| l.json_data }
   end
+
+  def display_calculate_winners_button?(budget)
+    budget.balloting_or_later?
+  end
+
+  def calculate_winner_button_text(budget)
+    if budget.investments.winners.empty?
+      t("admin.budgets.winners.calculate")
+    else
+      t("admin.budgets.winners.recalculate")
+    end
+  end
 end
diff --git a/app/views/admin/budget_investments/_investments.html.erb b/app/views/admin/budget_investments/_investments.html.erb
index da7a49749..cf1713381 100644
--- a/app/views/admin/budget_investments/_investments.html.erb
+++ b/app/views/admin/budget_investments/_investments.html.erb
@@ -9,7 +9,23 @@
 
 <%= link_to t("admin.budget_investments.index.download_current_selection"),
             admin_budget_budget_investments_path(csv_params),
-            class: "float-right small" %>
+            class: "float-right small clear" %>
+
+<% if params[:filter] == 'winners' %>
+  <% if display_calculate_winners_button?(@budget) %>
+    <%= link_to calculate_winner_button_text(@budget),
+                calculate_winners_admin_budget_path(@budget),
+                method: :put,
+                class: "button hollow float-right clear" %>
+  <% else %>
+    <span class="button hollow disabled float-right clear">
+      <%= t("admin.budgets.winners.calculate")%>
+    </span>
+    <div class="callout warning clear">
+      <%= t("admin.budget_investments.index.cannot_calculate_winners") %>
+    </div>
+  <% end %>
+<% end %>
 
 <% if @investments.any? %>
   <h3 class="inline-block"><%= page_entries_info @investments %></h3><br>
@@ -134,7 +150,7 @@
 
   <%= paginate @investments %>
 <% else %>
-  <div class="callout primary">
+  <div class="callout primary clear">
     <%= t("admin.budget_investments.index.no_budget_investments") %>
   </div>
 <% end %>
diff --git a/app/views/admin/budgets/_form.html.erb b/app/views/admin/budgets/_form.html.erb
index f5ce6b027..52a96c077 100644
--- a/app/views/admin/budgets/_form.html.erb
+++ b/app/views/admin/budgets/_form.html.erb
@@ -68,7 +68,6 @@
                     budget_results_path(@budget),
                     class: "button hollow margin-left" %>
       <% end %>
-
       <% if @budget.persisted? %>
         <%= link_to t("admin.budgets.edit.delete"),
             admin_budget_path(@budget),
diff --git a/config/locales/en/admin.yml b/config/locales/en/admin.yml
index 0292df944..bf4202a60 100644
--- a/config/locales/en/admin.yml
+++ b/config/locales/en/admin.yml
@@ -124,6 +124,7 @@ en:
       winners:
         calculate: Calculate Winner Investments
         calculated: Winners being calculated, it may take a minute.
+        recalculate: Recalculate Winner Investments
     budget_phases:
       edit:
         start_date: Start date
@@ -190,6 +191,7 @@ en:
         table_selection: "Selected"
         table_evaluation: "Show to valuators"
         table_incompatible: "Incompatible"
+        cannot_calculate_winners: The budget has to stay on phase "Balloting projects", "Reviewing Ballots" or "Finished budget" in order to calculate winners projects
       show:
         assigned_admin: Assigned administrator
         assigned_valuators: Assigned valuators
diff --git a/config/locales/es/admin.yml b/config/locales/es/admin.yml
index 5d44c9a17..002fb21ed 100644
--- a/config/locales/es/admin.yml
+++ b/config/locales/es/admin.yml
@@ -124,6 +124,7 @@ es:
       winners:
         calculate: Calcular propuestas ganadoras
         calculated: Calculando ganadoras, puede tardar un minuto.
+        recalculate: Recalcular propuestas ganadoras
     budget_phases:
       edit:
         start_date: Fecha de Inicio
@@ -190,6 +191,7 @@ es:
         table_selection: "Seleccionado"
         table_evaluation: "Mostrar a evaluadores"
         table_incompatible: "Incompatible"
+        cannot_calculate_winners: El presupuesto debe estar en las fases "Votación final", "Votación finalizada" o "Resultados" para poder calcular las propuestas ganadoras
       show:
         assigned_admin: Administrador asignado
         assigned_valuators: Evaluadores asignados
diff --git a/spec/features/admin/budget_investments_spec.rb b/spec/features/admin/budget_investments_spec.rb
index fe386bbaa..4a1beaacd 100644
--- a/spec/features/admin/budget_investments_spec.rb
+++ b/spec/features/admin/budget_investments_spec.rb
@@ -366,6 +366,23 @@ feature 'Admin budget investments' do
       expect(page).not_to have_select("tag_name", options: ["All tags", "Accessibility"])
     end
 
+    scenario "Disable 'Calculate winner' button if incorrect phase" do
+      budget.update(phase: 'reviewing_ballots')
+
+      visit admin_budget_budget_investments_path(budget)
+      click_link 'Winners'
+
+      expect(page).to have_link "Calculate Winner Investments"
+
+      budget.update(phase: 'accepting')
+
+      visit admin_budget_budget_investments_path(budget)
+      click_link 'Winners'
+
+      expect(page).not_to have_link "Calculate Winner Investments"
+      expect(page).to have_content 'The budget has to stay on phase "Balloting projects", "Reviewing Ballots" or "Finished budget" in order to calculate winners projects'
+    end
+
     scenario "Limiting by max number of investments per heading", :js do
       group_1 = create(:budget_group, budget: budget)
       group_2 = create(:budget_group, budget: budget)
diff --git a/spec/features/admin/budgets_spec.rb b/spec/features/admin/budgets_spec.rb
index 6288a2c8e..9872a9d27 100644
--- a/spec/features/admin/budgets_spec.rb
+++ b/spec/features/admin/budgets_spec.rb
@@ -186,7 +186,8 @@ feature 'Admin budgets' do
   end
 
   context "Calculate Budget's Winner Investments" do
-    scenario 'For a Budget in reviewing balloting' do
+
+    scenario 'For a Budget in reviewing balloting', :js do
       budget = create(:budget, phase: 'reviewing_ballots')
       group = create(:budget_group, budget: budget)
       heading = create(:budget_heading, group: group, price: 4)