To create a budget, complete the following:
Select the Budget Development module and choose Project as the management context.
Select a project in project navigation.
Click project ID segments from left to right in the list boxes.
Budgets should not be created at a rollup level that is higher than the Revenue (Funding) level.
If a budget is created at a rollup level, then lower level budgets are not allowed unless the rollup level budget and all related EACs are first deleted.
In Reports and Actions, click B.P.I.1 Create/Modify Budget for a Direct Project.
Click to open the project budget tool.
To see all of a project’s budgets (Working, Completed, Approved, Versions), click Audit/Modify All Direct Project Budgets B.P.I.2.
If a project has already started, Budgeting & Planning will have pulled the General Ledger details into the budget tool to populate the worksheets with the latest data.
The historical data can be overridden until the budget has been approved.
Once the budget is approved, an EAC (Estimate at Completion) can be created, which will include the historical actuals and the ETC data (Estimate to Completion).
If a budget has already been created and approved for the project selected, you will be prompted to either create another version of the budget or to open a “read only version of the budget, which opens B.P.A.View BUD.
Click the Excel icon to export the data.
Click the Print button to print the data.
Select a tab to open a worksheet and begin inputting data.
When the tool first opens, the default is set to start with StfHrs (Staff Hours).
The worksheets are defined as follows:
StfHrs (Staff Hours): On this worksheet input labor hour resources to be expended that account for the entire period-of-performance for the project or task ID.
Mtls (Materials): Record the raw cost of vendor materials on this worksheet.
Sbks (Subcontractors): Record the raw cost of subcontractor work on this worksheet.
MHOth (Material Handling and Other Costs): Specify miscellaneous material handling related costs on this worksheet.
Trvl (Travel): Record the raw cost of staff and vendor travel here.
Cnslt (Consultants): Record the raw cost of consultant effort on this worksheet.
ODCOth (Other Direct Costs): Specify miscellaneous other direct costs that will be burdened with G&A on this worksheet.
SbksHrs (Subcontractor Hours): This worksheet is like the subcontractors (Sbks) worksheet, but hours and raw hourly rates are specified.
ConsltHrs (Consultant Hours): This worksheet is like the consultant (Conslt) worksheet, but hours and raw hourly rates are specified.
Stfescl (Staff Escalations): This worksheet is where you can change the percent of escalation of staff salaries.
BrdnCst (Burdened Cost): This worksheet has project information regarding revenue, cost, and profit.
During the application installation and data validation process, the general ledger accounts associated with the various categories of direct labor, along with those accounts that keep track of travel and vendor related project resources, are assigned to these tabs so that the overhead, G&A, and material handling burdens can be properly related to each individual staff and vendor resource.
Use the options available on each worksheet to Cut, Copy, Paste, Delete, and replicate cell entries within the matrix of resources.
Cut: Removes data to the clipboard.
Copy: Copies data from the clipboard.
Paste: Pastes data from the clipboard.
Delete: Allows one row at a time to be deleted.
Refresh: Click to save any changes.
Moving from tab to tab causes an automatic refresh and data is saved.
When Refresh is grayed out, no changes have been detected by the system.
Notes: Record assumptions or other information here that relates to that particular worksheet.
Cell Fill: Use this feature to copy information from one cell to multiple cells.
Col Fill: Use this feature to copy information from one column to multiple columns.
Excel: Click this icon to export the data from the worksheet into Excel.
Once in Excel, highlight the data rows you want to manipulate and change the format from Custom to General to successfully import the data back into Budgeting & Planning.
The dark column headers on each worksheet in the project budget tool designate unique data that Budgeting & Planning does not allow you to change.
After completing the BrdnCst tab, click Commit to save your input. You can also select the Complete check box then click Commit.
When Complete is checked, it lets project budget approvers know the creator of the budget has completed the budget development process.
When you open a committed budget (complete or incomplete), Budgeting & Planning makes a copy of the committed budget in the working tables, keeping the previously committed version in the permanent or reporting tables.
It can then be approved by project managers in B.P.I.2 Audit/Modify All Direct Project Budgets.
If you make changes to a working copy of a budget and recommit it, (it can be complete or incomplete) the project budget tool will close, delete the working table copy and the working copy will not appear in the audit/modify grid.
If you approve a committed, complete budget, and try to create a new one for that same project, you have to do one of the following: delete the approved version, unapprove the approved version, or create a new version of the approved budget.