Budget Planning & Tracking

The Budget Planning process in ]po[ allows financial managers to define resource consumption targets for projects and cost centers. Planning variables include date, cost type, cost center, project phase and project member.

Process Activities

• Project manager enters budget structure
• The system automatically classifies new or modified financial documents and assigns them to matching budget items.
• Project manager may manually change the position of financial documents in the tree.
• Project manager compares initial and remaining budget with project progress

Process Input

• Budget structure
• Financial documents

Process Output

• Tracking of budget consumption that can be compared with project progress, earned value and other project data.

Process Support by ]po[  

The following ]po[ packages provide support for this process:

• Budget Management package includes all functionality necessary to define and check budgets.