Maintaining Budget Plan Versions

Page Name

Definition Name

Usage

Budget Plan Page

PC_BUD_GENERAL

Create new budget plan versions by finalizing a cost or revenue budget plan.

Transaction List Page

PROJECT_EXPRESSG

View historical budget detail rows that are associated with budget version analysis groups.

Use the Budget Plan page (PC_BUD_GENERAL) to create new budget plan versions by finalizing a cost or revenue budget plan.

Navigation:

Project Costing > Budgeting > Budget Plan > Budget Plan

Note: Before you can create budget plan versions, you must enable budget row versioning for the business unit and define the sequence of analysis types that the system uses to distinguish historical cost and revenue budget versions.

Click the Finalize button on the Finalize tab for an active cost budget or revenue budget. The system:

  • Verifies that an analysis type, that was not previously assigned to a version, remains in the budget analysis type sequence on the Budget Row Versioning page.

    When budget row versioning is enabled, the first time that you finalize a project budget for the business unit, the system assigns the first analysis type from the cost or revenue budget analysis type sequence on the Budget Row Versioning page to a copy of the budget plan rows. Each subsequent time that you finalize a project budget, the system updates a copy of the new finalized budget rows with the next available analysis type from the sequence.

  • Makes a copy of the current, finalized budget detail rows and updates the analysis type with the next available value in the budget analysis type sequence.

  • Assigns new, unique values to the Transaction ID field (RESOURCE_ID) of the copied rows, and stores the resource ID from the original rows in the Original Transaction ID field (RESOURCE_ID_FROM) of the copied rows.

  • Stores the copy of the budget detail rows, with the new analysis type, in the Project Transaction table.

  • Saves the current, finalized budget, with the original analysis type, in the Project Transaction table.

    The current, finalized budget rows are identical to the latest historical budget version in the Project Transaction table, except for the analysis type. The analysis type on the historical rows is based on the latest available analysis type from the Budget Row Versioning page.

If budget row versioning is enabled but all of the analysis types in the budget analysis type sequence have been assigned, a warning message appears when you click Finalize that prompts you to either abort the finalization process or proceed. If you abort the process, you can return to the Budget Row Versioning page and append the analysis type sequence. If you proceed with the finalization process without appending the analysis type sequence, the system does not retain a historical copy of the finalized budget rows in the Project Transaction table. However, all previously created historical rows remain in the Project Transaction table.