Budget Change Business Process
Use the Budget Change business process to make (non-zero amount) changes to the project's budget. This modifies the Initial Budget in the cost sheet, creating a Revised Budget. For zero-sum changes to the project budget, use the Budget Transfer business process.
Characteristics
This is a Project-level business process with a workflow, provided in the system template.
Record Statuses
| Status | Resulting State |
|---|---|
| Approved | terminal |
| Rejected | terminal |
| Canceled | terminal |
| Awaiting_Review | non-terminal |
| Pending_Approval | non-terminal |
| Sent_for_Revision | non-terminal |
Workflow
The default workflow for the Budget Change 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 Budget Change business process might create the following business processes: Not applicable
The Budget Change business process might be created by the following business processes: Forecast
Creating a Budget Change Record
Create a Budget Change record by navigating to Budget Management / Budget Change on the Project/Shell tab, or from the Tasks log on the Home tab or relevant Project/Shell tab. Act on an existing Budget Change task that has been assigned to you from the Tasks log.
Complete the Budget Change form and attach related documents, if needed. After completing the Budget Change form, select Send, and select an action in the Workflow Actions list to determine the next step in the workflow. Select 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.- Go to your Project tab, and switch to User mode.
- In the left Navigator, select Budget Management, and then select Budget Change.
- On the Budget Change page, select Create. Refer to the tables below to complete the form. You can select Save at any time to save a draft version of the form. Draft versions are stored under Drafts.
- To add attachments, go to the Attachments tab, and select Attach Files
.
- After completing the form, select Send.
- On the Workflow Action Details tab, select who should receive this BP.
- If permitted, you can add users to the CC list. These users will receive a notification about this BP but are not assigned a task.
- If permitted, you can select lists of members in the Contact List section. These members also receive a notification about this BP 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.
- Select Send.
- In the Notification window, review the content, and select OK.
The record moves to the next step in the workflow.
Completing the Budget Change Form
Key Information
Key information about this Budget Change
| Field Name | Access | Description |
|---|---|---|
| Title | Required | Title of the record |
| Amount | Read-Only | Amount of this record or line item |
| Reason | Editable | Budget change reason |
| 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. |
| Budget Change Version | Editable | This field is optional. If a previous budget change has been rejected or canceled, you can increment the version in this field. |
Description
Enter a scope description, assumptions, justification, and anything else needed for this Budget Change.
| 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. |
Financial Summary
The information below gives you a full snapshot of the current budget and impact of this and other Budget Changes. For more information, consult the cost sheet.
| Field Name | Access | Description |
|---|---|---|
| A. Initial Budget | Read-Only | The total amount of all approved initial budget records |
| B. Previously Approved Budget Changes | Read-Only | The total amount of all previously approved budget changes |
| C. Current Revised Budget (A+B) | Read-Only | The amount of the revised budget prior to the budget change |
| D. Other Pending Budget Changes | Read-Only | The total amount of all other budget changes currently pending approval |
| E. Current Request | Read-Only | The total amount of all the line items in this budget change |
| Current Change % Increase (E / C) | Read-Only | The percent increase of the budget change, against the revised budget |
| F. Potential Budget (C+D+E) | Read-Only | The revised budget after the budget change approval |
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 | The default unit of measure used for any line items that are added to this record |
| Unit Quantity | Editable | The default unit quantity used for any line items that are added to this record |
| Cost per Unit | Read-Only | The cost per unit amount divided by the unit quantity, for the initial budget |
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 |
Consolidating Line Items
Budget Change line items can be consolidated from the following business processes:
- Budget Change
- Budget Transfer
- Change Order
- Change Request
- Contract
- Estimate
- Forecast
- Initial Budget
- Invoice
- Issue
- Journal Entry
- PO Amendment
- Potential Change Order
- Purchase Order
- Risk
- Work Release
Completing the Line Items tab
General
Specify a cost code for this Budget Change 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 |
Description
Enter a description for this Budget Change line item.
| Field Name | Access | Description |
|---|---|---|
| Short Description | Required | Enter a description of 50 characters or fewer. |
| Detailed Line Item Description | Editable | Enter additional detailed information about the line item description field. |