--- sourceDocument: Xanadu Strategic Portfolio Management sourceDocumentLink: https://www.servicenow.com/docs/r/xanadu/it-business-management Release : - xanadu ft:locale : - en-US ft:publication_title : - Xanadu Strategic Portfolio Management ft:clusterId : - itbm bundleId : - itbm workflow : - Technology --- # Migrate budget of active projects to Next Experience # Migrate budget of active projects to Next Experience {#ariaid-title1} * Release version: Xanadu * * Updated August 1, 2024 * * ![](https://www.servicenow.com/docs/portal-asset/ico-clock) 1 minute to read Migrate the project budget to Next Experience to manage the financials using Project Workspace. ## Before you begin Role required: it_project_manager ## Procedure 1. Navigate to AllProjectProjectsAll. 2. Migrate baselines using one of the following options. | Choice | Description | | Using list actions | 1. Select the required projects from the projects list. 2. Select the Actions on selected rows... list and select Migrate Budget. 3. On the migrate budget confirmation window, select OK. {#fin-migrate-budget-project-ppm__ol_rwq_mtk_s1c} | | Using related links | 1. Open the required project. 2. Select the Migrate Budget related link. 3. On the migrate budget confirmation window, select OK. {#fin-migrate-budget-project-ppm__ol_swq_jbl_s1c} | | Activate a scheduled job | 1. Navigate to AllSystem DefinitionScheduled Jobs. 2. Filter the Name field to locate the Migrate budget for active demands and projects scheduled job and open it. 3. Select Active and on the Scheduled Script Execution form, fill the fields. For a description of the field names, see [Scheduled Script Execution Form](https://www.servicenow.com/docs/xKlBqaqClT0jTggeTDDxpw#scheduled-script-execution-form "Use the Scheduled Script Execution form to define a scheduled job."). 4. Select Update. {#fin-migrate-budget-project-ppm__ol_rmx_c21_21c} | |-|-| {#fin-migrate-budget-project-ppm__choicetable_v4j_f5z_d1c} Note: After migration, you won't be able to view the budget on Classic UI. You're encouraged to manage budget using the Financials in Next Experience. {#fin-migrate-budget-project-ppm__steps_v5j_qkf_ccc} **Related concepts** * [Create and manage waterfall projects](https://www.servicenow.com/docs/qYAtAhluJwRjZIVT7aE63g "An overview of the tasks involved in creating a waterfall project.") * [Project and portfolio funding](https://www.servicenow.com/docs/yo_huy9HdxJmO3rWIAQX6A "Specify the amount of money that projects and portfolios are allowed to have.") * [RIDAC records for a project in Project Workspace](https://www.servicenow.com/docs/h_7YaQ7eDOfvXq3oeGNQnQ "RIDAC is an acronym for Risk, Issue, Decision, Action, and Request Change records. In Project Workspace, you can create a risk record for your project that you can convert to other records during the project life cycle. You can track issues and avoid copying relevant details in the related records.") **Related tasks** * [Copy a project](https://www.servicenow.com/docs/R7uzpvuqVrOxm6jJDhABmA "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.") * [Create baseline of a project](https://www.servicenow.com/docs/rpnMdmmWB4r_uM8689QhCQ "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.") * [Assign a project schedule](https://www.servicenow.com/docs/uQb8CgchFUzq8J5Q4yM1bA "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 a project cost plan](https://www.servicenow.com/docs/ivSLOiUlxuZ8cUmvH6RiUg "Project cost plans capture the costs of projects. Create a cost plan to specify the unit cost of a cost type for a fiscal period.") * [Create a monetary benefit plan for a project](https://www.servicenow.com/docs/PRZ20AA5IgPcY0t6_VLNtA "Project benefit plans capture the potential benefits accrued by the project when the project is executed. Create a monetary benefit plan to specify the estimated benefit in a category spanning one or more fiscal periods.") * [Create a non-monetary benefit plan for a project](https://www.servicenow.com/docs/TZKTTgApzzzMVwrXHWah_g "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/4lFKAossSu8aM62u4y~6gQ "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 an expense line](https://www.servicenow.com/docs/u2GKnz2JBWQ~IUJ4etmhPA "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.") * [Generate labor costs](https://www.servicenow.com/docs/J46TUNq9Y66fMVEU8EcHIw "Generate labor costs based on the planning attributes configured for financials in the planning attributes page for the resource assignments in a project.") * [Migrate financial baselines of projects to Next Experience](https://www.servicenow.com/docs/DPaazW2jMtb3VaZYwwoslQ "Migrate the financial baselines of your project to Next Experience to manage the financial using Project Workspace.") * [Create a project status report](https://www.servicenow.com/docs/6uavTNJry6CKosZevPBTAA "You can periodically 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.") * [View project status reports](https://www.servicenow.com/docs/1EbO_5jbF6kUblFSUVoQwA "Project status reports provide the most recent, at-a-glance progress of a project displayed in several categories.") * [Create a cost type definition](https://www.servicenow.com/docs/QIrrP1yYKHaCfSNqJ_Mhtw "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.") * [Allocate budget to a project](https://www.servicenow.com/docs/iCor4zzDMQKgy9hZOkmU6Q "Set the budget of a project according to the fiscal years.") *[\>]: and then