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Oracle Projects maintains detailed budget history by retaining each budget version for each budget type, including summary and detail information.

Each budget has a draft, which is a working area for an in-process budget. The draft will not appear in any project status tracking inquiries or reports. (Note that draft is not a budget type, since any type of budget can have a draft.)

For each budget, you can create and save many budget versions. Each time you baseline a draft, you create a new version. To help identify budget versions, you can give each version a unique name and specify a change reason. You can view summary and detail information for all budget versions.

Each budget version has one of the following classifications:

• Original Budget: The first time you baseline a draft, the version is marked as the Original Budget.

• Revised Original Budget: You may need to revise your Original Budget due to budget entry errors or changes in the project scope. When you baseline a draft, you can identify the new baselined version as a Revised Original. In calculations and displays that use the Original Budget, the most recent Revised Original is used (or the Original Budget, if there is no Revised Original).

• Current Budget: The most recent baselined version of the budget is the Current Budget. You can have only one Current Budget for each budget type. Current Budget amounts are shown in the Project Status Inquiry window.

• Historical Baselined Versions: Any baselined budget that is not the Current Budget is considered an historical version of the budget.

See Also

Entering a Draft

Baselining a Draft

Revising a Baselined Budget

Revising an Original Budget

Reviewing Budget History