---
sourceDocument: Zurich Strategic Portfolio Management
sourceDocumentLink: https://www.servicenow.com/docs/r/zurich/it-business-management

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    - zurich

ft:locale :

    - en-US

ft:publication_title :

    - Zurich Strategic Portfolio Management

ft:clusterId :

    - itbm

bundleId :

    - itbm

workflow :

    - Technology


---

# Manage financials for planning items

# Managing financials for planning items in Strategic Planning Workspace {#ariaid-title1}

* Release version: Zurich
* 
* Updated July 31, 2025
* 
* ![](https://www.servicenow.com/docs/portal-asset/ico-clock) 14 minutes to read

Summarize  
![AI sparkle icon](https://servicenow.com/docs/portal-asset/ai-sparkle-icon) Summarized using AI  
This content was generated using new OpenAI-powered functionality. Results are provided on an as is basis and are not guaranteed to be accurate or complete.  

## Summary of Managing financials for planning items in Strategic Planning Workspace

Strategic Planning Workspace enables ServiceNow customers to comprehensively manage financials for planning items, including budgets, cost plans, forecasts, actual expenses, labor costs, and financial baselines.
It supports detailed financial tracking across projects and sub-projects, with tools to analyze and compare financial performance over time and across multiple currencies.
The workspace provides flexible display modes tailored to different user roles, facilitating financial planning, budget allocation, and variance analysis.
Show full answer Show less  

## Key Features

* **Cost View:** Allows project managers to manage and track cost plans, expense lines, and labor costs across multiple project levels. Parent projects show consolidated financial data from sub-projects, with capabilities to reforecast costs and customize display columns.
* **Multicurrency Support:** Enables management of financials in both Functional and Investment currencies, supporting global operations where planning and execution may occur in different currencies. Requires activation of the PPM Standard Multicurrency plugin.
* **Display Modes:** Users can switch between modes such as Forecast, Budget vs Forecast, Budget Allocation (for funding roles), Planned vs Actual, and Planned only. These modes provide targeted views for financial planning, budget review, and expense tracking.
* **Financial Baselines:** Capture financial snapshots of planning items manually or on a schedule. Baselines include cost plans, expense lines, and investment currency data, enabling comparisons to analyze variances and track financial changes over time.
* **Budget Allocation:** Portfolio managers can plan, approve, and manage budgets at various fiscal levels (monthly, quarterly, yearly) with lean budgeting capabilities. Budget allocation logic prioritizes actual expenses and planned costs for accurate distribution across fiscal periods.
* **Benefit Plans:** Support for both monetary and non-monetary benefit plans to capture potential benefits during project execution, managed alongside cost plans in an integrated view.
* **Simple Financials:** Allows entry of high-level planned costs and benefits directly from the Details page without detailed cost plans. These values can be captured in baselines and compared for financial performance tracking.
* **Data Export:** Financial data from Costs and Benefits or Baseline Comparison views can be exported as Excel or CSV files for stakeholder review and further analysis.

## Practical Benefits for ServiceNow Customers

* **Enhanced Financial Visibility:** Gain consolidated, accurate financial insights across projects and sub-projects to make informed planning and funding decisions.
* **Flexible Currency Management:** Seamlessly manage and report financials in multiple currencies to support multinational operations.
* **Role-Specific Views:** Tailored display modes empower project managers, portfolio managers, and financial users to efficiently handle budgeting, forecasting, and variance analysis.
* **Streamlined Budgeting and Forecasting:** Lean budgeting and reforecasting capabilities help optimize budget allocation, monitor expenses, and address variances proactively.
* **Robust Baseline Comparison:** Understand financial changes over time with baseline snapshots and variance analysis to improve financial controls.
* **Integrated Cost and Benefit Management:** Track both financial costs and potential benefits within a unified workspace for comprehensive project evaluation.
* **Data Sharing and Reporting:** Exportable financial data supports collaboration with stakeholders and transparent reporting.

## Next Steps for Customers

* Enable the PPM Standard Multicurrency plugin and schedule jobs to activate multicurrency features if operating globally.
* Configure budget allocation properties and budget attributes at the instance level to unlock budget-related display modes and functionalities.
* Leverage the baseline feature to capture financial snapshots regularly and compare them to monitor project financial health.
* Utilize the lean budgeting approach for efficient budget planning and approval cycles aligned with organizational fiscal periods.
* Migrate budgets from Classic UI to Next Experience to benefit from detailed monthly breakdowns and cost-type tracking.  
Manage budget, cost plans as forecasts, actual expenses as expense lines, generate labor costs, create financial baselines. You can also view, analyze, and compare the financial performance of your planning items at required cadence in Strategic Planning Workspace.

The comprehensive financials view helps you to understand planned and actual costs and Forecast (previously EAC - Estimate At Completion). These also include Remaining Estimates (previously ETC - Estimate To Completion), Actual (previously Actuals to date),
and so on, for the selected item. You can manage cost plans and associate the expense lines and process them to reflect the actuals for a planning item.

Export the financials data from Costs and benefits or Baseline comparison view as Microsoft Excel or a CSV file. Then, share it with your stakeholders to review the financial performance of
your planning items and portfolio.

## Cost view {#using-financials-spw__section_frn_h2l_2zb}

Forecast your planned costs, create, and manage cost plans and expense lines to track the financial performance of your planning items, review the latest costs and actuals.

In the Cost screen, you can:

* As a Project Manager, you have the enhanced visibility and ability to manage the financial data across multiple project levels. Cost view of financials shows cost plans and expense lines from sub-projects, allowing you to track the finances.
* The parent project widgets display the consolidated values of forecasted costs and expenses.
* Identify and manage costs using the Project/Demand column for any sub-project or demand directly from Cost view of the parent planning item.
* Reforecast all the cost plan values for future fiscal periods by double-clicking to edit the value in the least time scale view, either by month or by period.
* Manage cost plans for your planning items. For more information, see [Add, edit, or delete cost plans](https://www.servicenow.com/docs/9Od3~PqAzvVBTbVf5715Ow "Create a cost plan for a required duration to track your planned and actual expenses. Edit cost plans to adjust your planned expenses and delete any de-scoped forecasts.").
* Add or edit expense lines for your planning items to record any planned or unplanned expenses. For more information, see [Add or edit expense lines](https://www.servicenow.com/docs/Pn7B8I5oKRDyBPfJb4TtKA "Create or edit expense lines to capture the actual costs. You can associate the expense lines with a cost plan or create standalone expense lines to record unplanned expenses.").
* Generate labor costs based on the resource assignments. For more information, see [Generate labor costs](https://www.servicenow.com/docs/r~SUB11YiVSXRrpfK8ChgA "Generate labor costs in the Financials view for attribute-based resource assignments based on the financial attributes configured in the planning attributes page.").
* Create and compare baselines to capture the financial snapshot of your planning items. For more information, see [Create and compare financial baselines](https://www.servicenow.com/docs/3pZvxfsIRLHOzMS4tzC_vw "Create and compare financial baselines to get a snapshot of the project expenses and compare the planned costs against the actual expenses.").
* [Configure widgets](https://www.servicenow.com/docs/dAjzsvgZKPFYbTXrOs7GYQ "Enable and associate a widget to view financial summary of work items at a high-level.") to get a high-level overview of the financial data for your planning item.
* All financial details from sub-projects will be aggregated and displayed in the parent project's cost plans and widgets.

{#using-financials-spw__ul_qsm_vpm_fyb}  
Tip:  
Cost view gives you enhanced user experience to customize the left pane columns by using the personalize icon (![Personalize gear icon.]()) and by saving user preferences to retain the customizations made to hide, view, or adjust columns, time scope viewing, and so on.

## Multicurrency {#using-financials-spw__section_yps_zzq_jhc}

The multicurrency feature enables you to manage the financials of your planning items in two different currencies, Functional currency and Investment currency. Functional currency is typically defined by the admin
based as the primary currency that is used for planning, budgeting, and tracking the financials of your planning items.  
Financial users can now perform the following financial activities in Investment currency.

* Ability to select the Investment currency.
* Track the planned and actual expenses.
* Allocate and manage the budget.
* View simple financials data.
{#using-financials-spw__ul_alv_s4x_jhc}  
Important:  
New customers should install the PPM Standard Multicurrency (com.snc.ppm_multicurrency) plugin to enable multicurrency feature and [Activate scheduled job to populate to multicurrency fields](https://www.servicenow.com/docs/4omZ9Z~~KXBPyRLwfXgO2A "Activate and execute the scheduled job to map your costs and work with multicurrency.").

Using this feature, you can work on financial reporting at a global level and see the real-time currency conversions of your financial records.

Organizations operation at a global or multinational level, the work is planned and financed at one location and executed at a different location. Each might use a different currency from what was used in the
planning phase, multicurrency makes it easy to manage and track your planning items using any currency.

You can monitor and track the financials in one currency, and capture the costs in a different currency.

Using multicurrency, you can see all the costs in the currency you choose for the planning item, instead of restricting to use Functional currency defined in your locale. For more information on how to choose
investment currency of your planning items, see [Configure multicurrency for planning items](https://www.servicenow.com/docs/ulB1vExkCPN~irjjJg1INQ "Select investment currency as an additional currency, which can be different from your functional currency, to manage financial records of your planning items.").  
Financial records and widgets will display the costs based on the currency selection.  
Note:  
Once a cost plan, benefit plan or expense line or an investment budget gets created, you won't be able to change investment currency. You can change the investment currency as long as there are no financial records captured against the planning item.

## Display modes {#using-financials-spw__section_gyh_s2w_1gc}

On the financials page for a planning item in Strategic Planning Workspace, you have Display Mode drop-down switch between different modes to view different formats of financial information of your planning items. These views provide the relevant and focused information that helps project managers and funding users to work on the financial planning.

* Forecast
* Budget vs forecast
* Planned vs actual
* Planned
{#using-financials-spw__ul_zzm_jgw_1gc}Users with financial funding role \[sn_align_ws.spw.funding_user\] will see the Budget allocation option instead of the Budget vs forecast.
{#using-financials-spw__table_pnt_1wr_bgc__entry__2}

| Mode | Value |
|-|-|
| Forecast | View Actuals, Remaining estimates, and Forecast for the entire scope of the planning items. Use the time scale to view the actuals for the past fiscal periods and planned costs for the current and future fiscal periods. |
| Budget vs forecast | View the Budget, Actuals, and Variance for the fiscal periods and Forecast values for the entire scope of the planning items. Using this mode, you can: * Compare the latest forecasts with the approved budget at different time scales. * View the budget vs actual for past fiscal periods and budget vs planned for current and future fiscal periods at fiscal period level. {#using-financials-spw__ul_hp2_3j5_bgc} |
| Budget allocation (funding role) | View the Budget, Actuals, and Variance for the fiscal periods and Forecast values for the entire scope of the planning items. Using this mode, funding users can: * View the latest forecast and enter the budget that can they be approved to the work item. * Analyze the variance for the past fiscal periods and work on budget allocation for future fiscal periods. * Compare latest forecast with approved budget and revise the budget, if necessary. {#using-financials-spw__ul_qcs_nj5_bgc} |
| Planned vs actual | Compare the planned costs with actual expense for the past and current fiscal periods, and view planned costs for the future fiscal periods. |
| Planned | View only planned costs for the full range and manage the planned costs using the inline editing feature. |
[Table 1. Display modes value]

{#using-financials-spw__table_pnt_1wr_bgc}  
Note:  
* If you don't see the Budget allocation or Budget vs forecast display options, [enable the budget allocation property](https://www.servicenow.com/docs/L6zMGTiL8YfcXeYXIYskWQ "Enable allocation property after migrating to Next Experience to work on budget allocation for your planning items using Strategic Planning.") and [configure the budget attribute](https://www.servicenow.com/docs/3tiqWU_P0S2Y7_xvmF4Qyw "Configure the budget attribute by expense type or cost type as an instance-level to work on budget allocations for your planning items using Strategic Planning.") at instance level.
* To work on budget allocation using the Next Experience, [Activate a scheduled job to migrate budget to Next Experience](https://www.servicenow.com/docs/MZXAkuzGv4Fm7QWgMy4TcQ "Activate the Migrate budget for active demands and projects scheduled job to migrate budget of active planning items from Classic UI to Next Experience.").
{#using-financials-spw__ul_tz4_43w_1gc}  
The last selected view is saved as user preferences.{#using-financials-spw__table_tlg_kjw_1gc__entry__3}

| User role | Default mode | Role-level access |
|-|-|-|
| sn_align_ws.spw_funding_user | Budget Allocation | Allocate and approve budget, manage cost plans and expenses lines. |
| sn_align_ws.spw_financial_user | Forecast | Manage cost plans and expense lines. |
| business_stakeholder | Forecast | View financial data. |
[Table 2. Default display mode and access level for financial users]

{#using-financials-spw__table_tlg_kjw_1gc}

## Baseline view {#using-financials-spw__section_bkp_g2l_2zb}

Create a financial to capture a snapshot of the financial changes for your planning items. You can create on-demand baselines manually or automatically at a required cadence using a scheduler job. For more information, see [Create a baseline](https://www.servicenow.com/docs/3pZvxfsIRLHOzMS4tzC_vw#create-compare-baselines__ol_tgp_v2k_2zb)  
Note:  
Baselines created on the parent project include cost plans and expense lines from all of the child projects to calculate and give you a better breakdown of the financial performance of the projects and sub-projects.  
[Compare baselines](https://www.servicenow.com/docs/3pZvxfsIRLHOzMS4tzC_vw#create-compare-baselines__ol_lrh_3gk_2zb) to compare the difference in costs between latest status against a baseline or between any two baselines.  
Note:  
Each baseline is tagged with a number based on the order that they're created. The Current Financials baseline captures the financials details in real-time and is always represented with a flag icon (![Flag icon to indicate current baseline.]()).

Financial baselines now capture the investment currency for customers using multicurrency.  
A planning item baseline includes the following financial metrics in investment currency.

* Investment currency
* Total planned cost
* Planned benefit
* Planned return
* Budget cost
{#using-financials-spw__ul_kfj_wv5_l3c}  
At the investment baseline level, a corresponding investment baseline is automatically created. This baseline captures:

* Planned cost
* Actual cost
* Planned benefit
* Actual benefit
* Total budget
* Capex, Opex, and breakdown of these fields, and so on
{#using-financials-spw__ul_ajp_1w5_l3c}All values are populated along with their respective investment currency.  
Cost plan baselines now store actual cost values in investment currency, along with the investment currency field. Benefit plan baselines capture benefit values in the investment currency, along with the associated currency. At the breakdown level (for example, fiscal period or monthly breakdowns), actual cost and actual benefit values are populated in investment currency where actuals exist.  
Note:  
Comparison of financial baselines using multicurrency is not yet supported.
You can view the planning item and investment baseline using the list view. Access the pm_project_baseline list to view project baselines, and sn_invst_pln_invst_investment_baseline to view the investment baselines.

The baselines comparison view helps you to understand the variances between the two baselines.

Use the widgets when you compare baselines to view:

* Two dedicated widgets for each baseline displaying the EAC.
* The third widget displays the total variance between the EAC values of the selected baselines.
* The fourth widget displays the top three variances contributing to the overall variance by cost type.
{#using-financials-spw__ul_xsh_py3_gzb}  
The widgets and the header rows are color-coded to help you identify the selected baselines.  
Tip:  
Switch between different baselines from the comparison view by selecting the name of a baseline from one of the widgets.

When you compare baselines, you get the list of cost plans with their associated costs types and EAC at full scope. You also get a breakdown view of actual expenses and planned costs.  
By default, the time scale of the breakdown view is set to Month.

* Use the Time scale option to view the comparison breakdown view at monthly, quarter, and yearly levels.
* Select Time scope to filter fiscal periods, data in the widgets, and the comparison table.
{#using-financials-spw__ul_iqp_vgk_gzb}  
The widgets and the header rows are color-coded to help you identify the selected baselines.  
Tip:  
Select the name of a baseline from the first or second widget to compare different baselines.

Let's take an example of the comparison view of two baselines: 2023-10-01, Baseline A, and Current Financials, Baseline B.  

## How actuals, planned, and EAC are compared between two baselines captured at different timestamps {#using-financials-spw__example_y5c_4jk_gzb}

For a selected baseline, based on the creation date, the table shows Actuals values for the past fiscal periods from the created date. The table also shows Planned values for the current and future fiscal periods.  
Consider a planning item scoped from July 2023 to June 2024. Baseline A is created on 2023-10-01. If you compare the Current Financials baseline in December 2023 to the baseline captured in October 2023:

1. The baseline comparison view show Actuals vs Actuals columns from July 2023 to September 2023.

2. Planned vs Actuals for October 2023 and November 2023.

3. Planned vs Planned from December 2023 to June 2024.

{#using-financials-spw__ol_g43_hlk_gzb}  
Note:  
The columns are defined to calculate EAC, which is the sum of Actual costs until the last fiscal period and Planned costs from current to future fiscal periods.

## Budget allocation {#using-financials-spw__section_sds_3h2_ccc}

Portfolio managers can manage and approve the budget for planning items. The approved budget helps project managers to plan and meet the expenses to execute work.  
Plan and approve the budget for a shorter planning cycle at monthly, quarterly, or yearly level using the lean budgeting and funding feasibility. Lean budgeting helps Portfolio managers to track the value in return for the approved budget and to better plan the budget for future fiscal periods.  
Note:  
If the budget is allocated monthly, the total budget is rolled up to quarterly and yearly level. Similarly, if the budget is allocated at a quarterly or yearly level, the equal breakdown happens until monthly level.
For more information on how to allocate, approve, and handle budget for planning items, see, [Manage budget of your planning items in Strategic Planning](https://www.servicenow.com/docs/q5w_g1qatMqJ1LApKY1dMg "Allocate, manage, and approve budget for your projects. Lean budgeting allocates budget for short planning cycles across fiscal periods, such as monthly, quarterly, or yearly. This approach differs from allocating budget to the complete duration of a planning item.").  
Tip:  
In the budget allocation view, Portfolio managers review the EAC to understand the financial projections made by Project managers and use the Copy cost as budget option to allocate the entire planned cost as budget.

Choose the cost type as the attribute to allocate and approve the budget for individual cost types such as labor, non-labor.

Project managers can view the approved budget at the required time scale using the Budget vs forecast option from the display modes. As the work progresses and the actuals are captured, you can compare the budget
and actual costs using the Budget vs forecast mode. You can also reforecast the planned costs where the actuals are exceeding the budget using the inline edit feature at the required time scale.

Product managers can compare the latest cost with the approved budget by Capex or Opex, cost types, for the required time scale at monthly, quarterly, or yearly level. The comparison view provides insights to
Product managers to locate any variance at expense type or cost type, and at which fiscal period. Product manager can leverage this information to request for additional budget from the Portfolio manager.  
You can migrate the budget of existing active projects and demands items from the Classic UI to Next Experience. Financials in the Next Experience has new budget data model that facilitates to store the budget at a detailed level by monthly breakdowns and cost types. You can migrate the budget for active projects and demands individually or by bulk using the scheduled job.

* Migrate budget of active projects from Classic UI to Next Experience. For more information, see [Migrate budget of active projects to Next Experience](https://www.servicenow.com/docs/FfCRgrKci1Awauzh6uwQzg "Migrate the project budget to Next Experience to manage the financials using Project Workspace.").
* Migrate budget of active demands from Classic UI to Next Experience. For more information, see [Migrate budget of active demands to Next Experience](https://www.servicenow.com/docs/uITdXB3BEzB4HyZFoL4X9Q "Migrate your demand budget to Next Experience to manage the financials using Project Workspace.").

{#using-financials-spw__ul_zjd_c2g_qcc}  
Note:  
The migrated budget is captured in the sn_invst_pln_invst_budget table to enable the lean budgeting for required time scope. Budget distribution logic

The budget allocation approach introduces data‑aware budget distribution, prioritizing actuals for completed periods and planned costs for future periods. The system uses different distribution strategies
depending on whether actuals or Estimate at Completion (EAC) values are available. This also depends on whether the fiscal period falls in the past, present, or future.  
Budget allocation logic is divided into three focus areas: past fiscal periods, current fiscal periods, and future fiscal periods.

1. Past fiscal periods that have already ended.
   * If actuals exist, the budget is distributed proportionally to actual spending. If the total budget amount equals the total actuals, the distribution exactly matches the actual values.
   * If there are no actuals, the budget is distributed evenly across the past fiscal periods.
   {#using-financials-spw__ul_iby_svb_l3c}
2. The current fiscal year is like a mid‑year scenario where both past and future fiscal periods are available.
   * For past or completed fiscal periods, the system distributes the budget proportionally matching the actual expenses. If there are no actual expenses, budget is allocated as zero (0).
   * If planned costs exists for the current and future fiscal periods the remaining budget is distributed proportionally based on the planned costs.
   * If planned costs doesn't exists for the current and future fiscal periods, budget is distributed evenly across the fiscal periods.
   {#using-financials-spw__ul_fs2_gwb_l3c}
3. Future fiscal periods
   * If planned costs exists, the remaining budget is distributed proportionally based on planned costs.
   * If planned costs doesn't exists, the remaining budget is distributed evenly across the remaining fiscal periods.
   {#using-financials-spw__ul_qvx_wwb_l3c}

{#using-financials-spw__ol_emq_svb_l3c}{#using-financials-spw__table_i1c_5rg_l3c__entry__3}

| Fiscal periods | Available financial data | Distribution method |
|-|-|-|
| Past fiscal | Actual expenses | Proportional to actuals |
| Past fiscal | No financial records | No budget allocation |
| Current year -- past fiscals | Actual expenses | Allocate budget proportionate to actual values |
| Current year -- remaining months | Planned costs exists | Allocate budget proportionate to planned costs |
| Current year -- remaining months | No planned costs | Even distribution |
| Future fiscal periods | Planned costs exists | Allocate budget proportionate to planned costs |
| Future fiscal periods | No financial records | Even distribution |
[Table 3. Budget distribution based on financial records]

{#using-financials-spw__table_i1c_5rg_l3c}

## Benefit plans {#using-financials-spw__section_k3m_3dx_12c}

Monetary benefit plans capture potential benefits accrued while executing a planning item. Non-monetary benefit plans capture the potential non-financial benefits accrued while executing a planning item. You can
create and manage [monetary benefit plans](https://www.servicenow.com/docs/PuKo509F2fjbUY12DHmpBA "Create and manage monetary benefit plans to capture the potential benefits while executing your planning items.") and [non-monetary benefit plans](https://www.servicenow.com/docs/cooDmow_lb1QKl855g4gJg "Create and manage monetary benefit plans to capture the potential benefits while executing your planning items.") to capture the potential benefits of your planning items.

Instead of switching between the financials record page and benefit plan tabs, you can now manage cost and benefit plans from the Cost and benefits view. You can also leverage the new financials experience with the side panel and grids for quick forecasting and tracking of monetary benefit plans.

## Simple financials {#using-financials-spw__section_sxz_cdw_pcc}

Simple financials lets you enter the preliminary high-level planned capex, opex, benefit, and so on from the Details page without capturing the costs plans from the Cost view. You can update the
simple financials values as required until you have the planned and actual costs captured.

Using the baseline feature, you can capture these simple financial values in a baseline and compare them against any existing baseline. You can:

* Reforecast simple financials and compare the by selecting the Current Financials from the list of baselines.
* Capture the planned and actual expenses as the project progresses. Then, compare any financial baseline with a simple financials baseline to track the financial performance of the planning item.
{#using-financials-spw__ul_vqz_bhw_pcc}