Budget Items capture anticipated costs for this Demand.
Note:This functionality is only available after you apply
the
mApp Solution.
If a Demand is accepted into a Portfolio, the Budget Items transfer to
that Project. Project Costs can be tracked to these Budget Items based on the
Type and Expense categories. The budget numbers you enter will also show up in
the Cost Fields in the
Financial Assessment tab.
To create a new Budget Item:
- In the
Budget Plan tab, select
New Budget Item.
- Enter the Budget Item name in the
Details Field.
- Choose a Cost Type from the drop-down list.
- The Total Cost Field automatically populates with the sum of the
quarterly numbers.
- Select the
Capital Expense or
Operational Expense option.
- In the
Budget Breakdown section, enter costs for up
to 12 quarters. The yearly totals automatically calculate.
Note: If you exceed the Demand's Estimated Total Cost when adding
Budget Items, the Estimated Total Cost will not increase. This lets you compare
the estimated cost and the Demand cost after it has been evaluated.