Initial Budget Business Process

Use the Initial Budget business process to define and approve the initial budget on the project. After it is approved, changes can be made via the Budget Change and Budget Transfer business processes.

Characteristics

This is a Project-level business process with a workflow, provided in the system template.

Record Statuses

Approved

terminal status

Canceled

terminal status

Rejected

terminal status

Awaiting_Review

non-terminal status

Pending_Approval

non-terminal status

Sent_for_Revision

non-terminal status

Workflow

The default workflow for the Initial Budget business process is set up in a certain way; however, it may be used differently by your organization. Typically, a user with the necessary permissions can create the record and either move it directly to the end step or send it to others for review or approval. The recipients in the second step can take the action of approving or rejecting the record or send it on to others.

Related Processes

The Initial Budget business process might create the following business processes: Not applicable

The Initial Budget business process might be created by the following business processes: Estimate

Creating an Initial Budget Record

Create an Initial Budget record by navigating to Budget Management / Initial Budget on the Project/Shell tab, or from the Tasks log on the Home tab or relevant Project/Shell tab. Act on an existing Initial Budget task that has been assigned to you from the Tasks log.

Complete the Initial Budget form and attach related documents, if needed. After completing the form, click Send and select an action in the Workflow Actions list to determine the next step in the workflow. Click Send to route the form to the next assignee.

Note: You must enter a value in all required fields (*) before you can save the form.

  1. Go to your Project tab and switch to User mode.
  2. In the left Navigator, select Budget Management, and then select Initial Budget.
  3. On the Initial Budget page, click Create. Refer to the tables below to complete the form. You can click Save at any time to save a draft version of the form. Draft versions are stored under Drafts.
  4. To add attachments, click Attach Files on the Attachments tab.
  5. After completing the form, click Send.
  6. On the Workflow Action Details tab, select who should receive this Initial Budget.
    • If permitted, you can add users to the CC list. These users will receive a notification about this Initial Budget but are not assigned a task.
    • If permitted, you can adjust task due dates for all users, or set individual task due dates for each assignee.
  7. Click Send.
  8. In the Notification window, review the content and click OK.

    The record moves to the next step in the workflow.

Completing the Initial Budget Form

Key Information

Key information about this Initial Budget is provided below.

Field Name

Access

Description

Title

Required

Enter a title.

Amount

Read-Only

Total amount (sum of amounts for all line items)

Initial Budget Version

Editable

This field is optional. If a previous initial budget has been rejected or canceled, you can increment the version in this field.

Due Date

Editable

Target completion date for this record. A default duration has been set by your administrator but can be overridden here for this record.

Description

Enter a scope description, assumptions, justification, and anything else needed for this Initial Budget.

Field Name

Access

Description

Short Description

Editable

Enter a description of 250 characters or fewer.

Detailed Description

Editable

The detailed information about the short-description field. The field size can be expanded.

Unit Cost Information

Information on the cost per unit for this record. The Unit of Measure and Unit Quantity values are set to the project values by default.

Field Name

Access

Description

Unit of Measure

Editable

Enter the Unit of Measure used for the Unit Quantity and Cost Per Unit amounts.

Unit Quantity

Editable

Unit quantity to be used to calculate the Cost Per Unit for this record

Cost per Unit

Read-Only

The total cost divided by the unit quantity for this record

Record Information

System information about this record

Field Name

Access

Description

Record Number

Read-Only

System-assigned record number

Status

Read-Only

Record status for a workflow BP record is based on the workflow action preceding the current workflow step.

Creator

Read-Only

Creator of this record

Creation Date

Read-Only

Date that the record was created

Record Last Update Date

Read-Only

Date that the record was last updated

Business Process Record URL

Read-Only

A shareable link to this record, for anyone with the necessary permissions

Project Name

Read-Only

Name of the project

Project Number

Read-Only

Unique Project Number

Additional Information

The Initial Budget Additional Information block is reserved for future use by your organization.

Field Name

Access

Description

Budget Date Picker UDF 1

Disabled

Reserved for future use by your organization

Budget Date Picker UDF 2

Disabled

Reserved for future use by your organization

Budget Decimal UDF 1

Disabled

Reserved for future use by your organization

Budget Decimal UDF 2

Disabled

Reserved for future use by your organization

Budget Date Only Picker UDF 1

Disabled

Reserved for future use by your organization

Budget Date Only Picker UDF 2

Disabled

Reserved for future use by your organization

Budget Currency Amount UDF 1

Disabled

Reserved for future use by your organization

Budget Currency Amount UDF 2

Disabled

Reserved for future use by your organization

Budget Picker UDF 1

Disabled

Reserved for future use by your organization

Budget Picker UDF 2

Disabled

Reserved for future use by your organization

Additional Notes

The Initial Budget Additional Notes block is reserved for future use by your organization.

Field Name

Access

Description

Budget Text 255 UDF 1

Disabled

Reserved for future use by your organization

Budget Text 255 UDF 2

Disabled

Reserved for future use by your organization

Budget Text 255 UDF 3

Disabled

Reserved for future use by your organization

Budget Text 255 UDF 4

Disabled

Reserved for future use by your organization

Budget Long Text UDF 1

Disabled

Reserved for future use by your organization

Budget Long Text UDF 2

Disabled

Reserved for future use by your organization

Currency

If the currency of this Initial Budget is different from the project currency, specify it here.

Field Name

Access

Description

Transaction Currency

Editable

If there are multiple currencies defined, use this field to specify a currency other than the project currency.

Rate in Project Currency

Read-Only

Exchange rate that will be used to calculate the Project Currency Amount. This will be set after the record is saved, submitted, or sent forward in the workflow. After it is set for a record, it cannot be changed.

Project Currency Amount

Read-Only

This field shows the amount of the transaction, according to the project currency.

Consolidating Line Items

Initial Budget line items can be consolidated from the following business processes:

Completing the Line Items tab

General

Specify a cost code for this Initial Budget line item.

Field Name

Access

Description

Cost Code

Required

Enter a cost code.

Code Name

Read-Only

Populates the code name of the selected cost code

Budget Details

Enter the cost for this line item as a lump sum or a unit rate.

Field Name

Access

Description

Item Quantity

Required

Enter the item quantity.

Unit of Measure

Editable

Enter the Unit of Measure used for the Unit Quantity and Cost Per Unit amounts.

Item Unit Cost

Required

Enter the item unit cost.

Amount

Read-Only

Amount of this line item. Amount = Quantity x Item Unit Cost.

Description

Enter a description for this Initial Budget line item.

Field Name

Access

Description

Short Description

Required

Enter a description of 250 characters or fewer.

Detailed Line Item Description

Editable

Enter additional detailed information about the line item description field. This field can be expanded, if needed.

Additional Information

Enter additional information specific to this Initial Budget line item.

Field Name

Access

Description

Spend Category

Editable

The spending category

Work Package

Editable

Select the Work Package that this item will roll up to.

Budget Line Item UDF PD 1

Disabled

Reserved for future use by your organization

Budget Line Item UDF Text 255 1

Disabled

Reserved for future use by your organization

Budget Line Item UDF CA 1

Disabled

Reserved for future use by your organization

Budget Line Item UDF DA 1

Disabled

Reserved for future use by your organization



Last Published Monday, April 14, 2025