--- sourceDocument: Australia Strategic Portfolio Management sourceDocumentLink: https://www.servicenow.com/docs/r/it-business-management Release : - australia ft:locale : - en-US ft:publication_title : - Australia Strategic Portfolio Management ft:clusterId : - itbm bundleId : - itbm workflow : - Technology --- # Allocate budget to a project # Allocate budget to a project {#ariaid-title1} * Release version: Australia * * Updated March 12, 2026 * * ![](https://www.servicenow.com/docs/portal-asset/ico-clock) 1 minute to read Set the budget of a project according to the fiscal years. ## Before you begin Role required: it_portfolio_manager ## Procedure 1. Open the project form. 2. In the related links, select Project Budget. The Project Budget dialog box opens. 3. Select the fiscal year for which you want to set the budget for the project. 4. Enter the amounts for Capex Budget and Opex Budget. The Total Budget is updated with the sum of capex and opex amounts. 5. Select OK. * If the project does not have any cost plan associated, then project budget is distributed by honoring planned start and end dates of the project. * If the project has any cost plan associated, then project budget is distributed by honoring the cost plan fiscal periods. {#allocate-budget-to-project__ul_zvd_crj_nbb} Note: Negative budget amounts are supported. If you enter a negative Capex Budget or Opex Budget amount, or the associated cost plan has a negative total planned cost, the project budget is still distributed across the cost plan breakdowns and rolled up to the project financials. {#allocate-budget-to-project__steps_xtz_1cs_x1b} ## Result The project budget for the selected year appears in the Project Budget related list. You can select the amounts in the list to revise them. **Related concepts** * [Create and manage waterfall projects](https://www.servicenow.com/docs/VM302MC6_riUIqWh0YOJew "Plan, create, and manage projects using the Waterfall methodology.") * [Costing add-on in Project Management](https://www.servicenow.com/docs/SC3Q9Hv8wyzQWqY7_teklQ "The Project Management costing add-on connects the Project Management application to the Cost Management application to allow for estimating and tracking the costs associated with projects.") **Related tasks** * [Create a project task from a project](https://www.servicenow.com/docs/Lw3IPIBtE838x_BQejJEjA "Create tasks from the project form to break down project objectives into manageable units of work.") * [Create a parent-child relationship on the Project Task form](https://www.servicenow.com/docs/r7utskfn5JncwTcJ9_xCEg "Create a child task from any project task form.") * [Create a monetary benefit plan for a project](https://www.servicenow.com/docs/quzzbREwnaSkByZjb5HzMA "Create a monetary benefit plan to specify the estimated benefit in a category spanning one or more fiscal periods. Project benefit plans capture the potential benefits accrued by the project when the project is executed.") * [Create a non-monetary benefit plan for a project](https://www.servicenow.com/docs/zSGvibU~RI5WXF9yM0POzA "Create a non-monetary benefit plan to specify the estimated benefit in a category spanning one or more fiscal periods. Project benefit plans capture the potential non-financial benefits accrued by the project when the project is executed.") * [Associate monetary and non-monetary benefit plans](https://www.servicenow.com/docs/ECYt2tG6rFymkgjN2LM3Qg "Associate monetary and non-monetary benefit plans, so that you can capture the potential benefits (financial and non-financial) accrued by the project for the hybrid benefit plans.") * [Create a project cost plan](https://www.servicenow.com/docs/BnG9nHAzYxV0YlqP2hAxug "Create a cost plan to specify the unit cost of a cost type for a fiscal period. Project cost plans capture the costs of projects.") * [Recalculating costs of all resource plans in a project](https://www.servicenow.com/docs/jBCKP7qRub2NfYc8PgoRYw "Recalculate the resource costs of all resource plans in a project whenever the hourly rates change in the associated rate model so that the plan costs are up to date.") * [Create an expense line](https://www.servicenow.com/docs/~rdf_pYUXyvuw~yPuVhsBg "A project expense line is cost associated with a specific source, such as a user, fixed asset, or a CI. Expense lines are part of project cost plans.") * [Update a project](https://www.servicenow.com/docs/N0pXpN21A1ED4oJPhPU0qQ "Update the project and make adjustments in fields to handle scope, cost, and schedule. While a project is underway, keep actual values as current as possible. Continue to measure actual values, analyze the impact of any potential project risks.") * [Copy a project](https://www.servicenow.com/docs/l2tWieRP37Yt9We~TbKAXw "Another option for creating a project is to copy an existing project with all its tasks and relationships. After you specify the start date for the copy, the system adjusts all task start and end dates automatically.") * [Assign a project schedule](https://www.servicenow.com/docs/UxNxm1mWaW2zd3QQnAwcvQ "Without an assigned schedule, a project calculates a day as a full 24 work hours. To schedule tasks by a more realistic work day, assign a schedule to the project. If the schedules provided in the base system do not suit your needs, define a new one.") * [Create baseline of a project](https://www.servicenow.com/docs/fxS7Pz6VqDAEeMCeOhO~pQ "Create a schedule baseline and financial baseline of a project. A schedule baseline captures planned dates of all tasks and milestones at a particular moment in time. A financial baseline captures benefit and financial metric information (snapshot of cost plan, benefit plan, and project-level financial metrics) at a particular moment in time.") * [Create a milestone](https://www.servicenow.com/docs/rMHrCmS24JZ7CoShHuoPYQ "A milestone is a project task with a duration of zero (0). Use milestones to mark key dates in your project, such as key decision points, approvals, and holidays. Milestones are treated like any other project task and you can create dependencies between tasks and milestones.") * [Activate project task email notifications](https://www.servicenow.com/docs/Qh0RwmdQRPgYehRKtD7R7A "The following email notifications for the Project Management application are available by default, but are inactive. You must activate them manually.") * [Change the planned start date of a project](https://www.servicenow.com/docs/kGR0oAtgYKRrsMQSBIWQbw "Adjust the schedule of a project by changing the planned start date of a project and shifting it later or earlier than the current planned schedule.") * [Create a cost type definition](https://www.servicenow.com/docs/OHPeJxA_u7nwMhPuen9kUQ "Create a cost type definition to associate a cost type, operating, or capital, to an account in the General Ledger from the Financial Management application. Create a cost type definition if you are using Project Portfolio Management with Financials.") * [Generate labor costs](https://www.servicenow.com/docs/xmMsuWLs6NTNO526jAiBSA "Generate labor costs based on the planning attributes configured for financials in the planning attributes page for the resource assignments in a project.") * [Create a project status report](https://www.servicenow.com/docs/XsjAV0McJlL4xnSsrHxGUQ "Create project status report from the related lists of the project form. The project status report created for the most recent status date updates the status of the project in portfolios.") * [Migrate budget of active projects to Next Experience](https://www.servicenow.com/docs/u9QcFd4HOTjGFX3qIvhOGQ "Migrate the project budget to Next Experience to manage the financials using Project Workspace.") * [Migrate financial baselines of projects to Next Experience](https://www.servicenow.com/docs/jK9r8GuJzs6E~LFarxrVuQ "Migrate the financial baselines of your project to Next Experience to manage the financial using Project Workspace.")