Create a New Business Budget

Use the New Business Budgets screen to enter budget details for a new business budget. The budget can be created from scratch or from an existing project budget/EAC or from another new business budget.     

Prerequisite: Before you can create a new business budget, you must create the work breakdown structure (WBS).

To create a new business budget:

1. Click Planning » New Business Budgeting » Actions/Processing » New Business Budgets.

2. In the New Business Budget ID field, enter the budget ID or click  to select it, if the ID is not already displayed.  

3. Click on the toolbar.

The WBS of the budget displays in the New Business Budgets Status table. The Level column indicates the WBS hierarchy. For example, if you created a WBS with three levels, there will be a row for each level, numbered 1, 2, and 3.

Important: You can only budget at one level of the WBS.

4. In the New Business Budgets Status table, identify the row (WBS level) where you want to enter budget details, and select the Create Budget check box in that row.

5. In Description, if you did not enter a description when you created the WBS, enter a value that describes this level of the budget. This field is optional.

6.  Click Shared to share the budget. This is optional.

7. In Work Type, select a work type for the budget. Choose from options such as: Add On, New Work, or new business. This field is required.

8. In Source Budget Type, select the source you want to use to create the new business budget. This field is required.

Options include the following:

• Blank - Select this option to create it from scratch. If you select this option, there are no other required fields to complete in the New Business Budget Status table, and you can begin entering budget details by selecting any of the subtasks.

• Project Budget - Select this option to create it from a project budget.  

• Project EAC - Select this option to create it from an Project EAC.

• New Business - Select this option to create it from another new business budget.

9. In Source Budget ID, select the ID number of the source budget. This is required field, unless you selected Blank as the Source Budget Type.

After you select the ID, the following fields populate automatically based on the selected source:

• • Source Version Number

  • Source Work Type fields

  • Start Date

  • End Date

  • Periods

  • Weeks  

  • Escalation

  • Org ID

  • Account Group

10. Click .

With all the required fields completed in the New Business Budgets Status table, you can now enter or modify budget details using any of the subtasks. To learn more about fields on the individual subtasks, see links to the subtask topics within the New Business Budgets topic or table of contents.