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
| Status | Resulting State |
|---|---|
| Approved | terminal |
| Canceled | terminal |
| Rejected | terminal |
| Awaiting_Review | non-terminal |
| Pending_Approval | non-terminal |
| Sent_for_Revision | non-terminal |
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, 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 Initial Budget.
- On the Initial Budget 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 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 |
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:
- 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 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 50 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. |