Cost plan, Cost breakdown, Expense line, Resource plan, Time card
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‎10-04-2016 09:58 PM
Hi,
Can anyone tell me the relation between the Cost plan, Cost breakdown, Expense line, Resource plan and Time card.
I could see that when I create a project/demand and associate a resource plan, cost plan got auto created with cost breakdowns. Once the resource plan is approved, I could see the expense line created and when the expense line is processed, actual cost on project/demand got populated based on the expense line.
Wanted to know the relation between the above mentioned entities with a project/demand/resource.
Thanks
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‎10-16-2016 09:25 PM
Thanks for your replies.
The budgeted cost field available on project form will be auto populated based on the budget allocations of the portfolio to which this project is associated with.
Can you please explain me how a budget plan created will be approved and how the allocations done roll down to project.
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‎10-16-2016 10:59 PM
You can read more about budget plans here Budget plans
It is part of the IT Financial Management product (not part of PPS)
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‎10-16-2016 11:28 PM
Hi Arun,
I have gone through the link but i could not understand how a budget plan is approved and allocations are done. Please explain the same
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‎10-17-2016 11:10 PM
Hi,
Please help me on understanding this as we have to update our customer
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‎10-18-2016 01:58 PM
Technical-wise, there isn't anything like an approval button for budgets. It is a matter of roles. Budget plans . Once a budget is agreed upon, you promote budgets to forecasts Budget forecasts Promote a budget plan to a forecast .
Process-wise, approval would depend on the organization. Here is a sample of roles in budgeting: