Use this screen to manage the budget development process for a direct project specified in the Navigation. You can check the status of all budgets at lower levels of Work Breakdown Structure (WBS), such as Working, Completed, Approved, as well as other versions. As a budget approver, you can approve the budget in this screen by clicking Edit next to the ID of the project budget you wish to approve. Create/Modify Budget for Direct Project screen displays when you click Modify.
The Audit/Modify All Direct Project Budgets screen displays the following information.
This non-editable field displays the project ID.
If more than one budget exists, this non-editable field displays the version number of each.
This non-editable field displays the start date of the budget.
This non-editable field displays the end date of the budget.
This non-editable field displays the number of periods assigned to the budget.
This is the revenue amount uploaded from Costpoint or GCS Premier for that project and represents the amount of revenue agreed to in the contract for that level of the project. This field is display-only and cannot be edited.
This is the amount of revenue uploaded from Costpoint or GCS Premier for that project level. The value in this field is the same as the actual funded amount in the budget for that project level. This is a display-only field and cannot be edited.
The funded revenue amount may differ from the contract revenue, because the contract could be funded at different stages. For example, assume that a project has a contract revenue amount of 1,000,000, but it is only funded at 250,000 per year for four years. Since the contract revenue is 1,000,000 and the funded revenue is 250,000 for each year, the contract revenue will always be greater than or equal to the funded revenue.
When the contract revenue and funded revenue amounts are not equal, an asterisk displays next to each, indicating that you need to update/approve the budget to update the control table.
This is the amount of revenue that the project manager will distribute from the funded level of the project to the lower level.
The amount is entered manually in the Audit/Modify table. Once entered, it automatically updates the Funded Revenue field on the Burden Cost tab in the following screens for all levels of the project:
B.P.1.1 Create/Modify Budget for Direct Project
B.P.1.2 Audit/Modify All Direct Project Budgets
B.P.1.4 Create/Modify EAC for Direct Project
B.P.1.5 Audit/Modify all EACs for Direct Budge
If you enter Distributed Revenue amounts for any level of a project, you must enter Distributed Revenue for all applicable tasks on that project in order to see the correct Funded Revenue on the Burden Cost tab for that budget.
If the project manager has not updated the Distributed Revenue field for any task on a project, the current functionality remains in place and the Funded Revenue shown in the Burden Cost tab for all levels of that project is the Funded Revenue amount from Costpoint or GCS Premier.
The amount in Distributed Revenue displays in red under any of the following conditions:
When the Distributed Revenue amount is not within 10% of the amount in the Budget Revenue.
For example, if the budget revenue amount for project 1002.001 equals 10,000 and the distributed revenue equals 8,000, the difference between the two is 20%, so Distributed Revenue would display in red.
When the distributed revenue amount summed for all tasks on a project exceeds the total amount of revenue for that project (as displayed in Funded Revenue field for the top level of the project).
For example, if the funded revenue amount for project 1000 equals 10,000 and the project manager enters a total distributed revenue amount of 11,000 for the various tasks on the project, Distributed Revenue would display in red because it exceeds the amount in Funded Revenue.
This represents the amount of revenue entered in the budget for that project level. This field is populated by the total revenue budget for that project level. For any higher level projects, all lower level project amounts are rolled up to calculate the number. This is a display-only field and cannot be edited.
Any funding information that is added in Budgeting & Planning for the lower levels is overwritten by the data update from Costpoint or GCS Premier if funding information for those same levels is added in Costpoint or GCS Premier.
If a budget exists for the project ID, the Modify link displays in this column. Click Modify to update the budget. If you are not the current owner of the budget, you will be prompted to take control of the budget or exit.
This non-editable field indicates whether or not the budget is approved.
This non-editable field displays the date on which the budget was approved.
This non-editable field displays the name of the individual who approved the budget.
If an escalation was applied to the budget, this non-editable field displays the escalation percentage.
If the budget was modified, this non-editable field displays the date on which the last modification occurred.
If the budget was modified, this non-editable field displays the user ID of the individual who last modified it.