Creating a Portfolio Budget Plan

The Portfolio Budget Plan encompasses all linked Project Budget Plans.

There are two types of budget plan, a Portfolio Budget Plan, and a Project Budget Plan. Use the appropriate workspace to create a budget plan for either a project or portfolio budget. To create a Project Budget Plan, refer to Creating a Project Budget Plan.

This workspace is available to the following roles:

•Portfolio Manager

•Project Manager

•Demand Manager

To create a Portfolio Budget Plan:

1.Log into the Service Desk console.

2.Open the Portfolio Budget Plan workspace.

3.Click New Portfolio Budget Plan.

4.Enter the required information into the fields in the Overview section and tabs listed below.

5.When completed, click Save.

This is the main section where you enter basic details for the Portfolio Budget Plan.

1.Enter information into the fields.

Fields marked with an asterisk are mandatory.

Field Description
Name* A unique name for the master budget, for example, Portfolio Budget FY2015.
Budget Policy A general statement about the budget policy.
Owner Name of the owner. The default owner is the creator of the record.
Status

Status of the budget plan. The default status is Draft and changes automatically as the plan goes through the approval workflow.
Start Date* The start date of the budget plan, typically the first day of the fiscal year.
End Date* The end date of the budget plan, typically the last day of the fiscal year.
Approval Due Date The latest date when the budget approval is due.

2.You must enter the planned amount for the budget on the Details tab before saving, refer to Adding Information in the Details Tab.

1.Enter information into the fields.

Fields marked with an asterisk are mandatory.

Field Description
Planned Amount* The total expense planned for the budget. This includes all planned amounts for project budgets linked to this budget.
Allocated Amount currently allocated to spend.
Consumed Total consumed cost covering all linked Project Budget Plans.
Remaining Remaining funds covering spend from all linked Project Budget Plans.
Percent Used Percentage of planned amount used.

2.Click Save if you want to save the record at this point, you can return later and add additional information.

This tab lists the portfolio records that are linked to the portfolio budget.

Use the Link button to link an existing portfolio record.

Field Description
Portfolio ID of the linked portfolio record.
Name Name of the linked portfolio.
Status Current status of the linked portfolio.
Owner Owner of the linked portfolio.
Primary Strategic Objective The currently selected primary strategic objective in the linked portfolio record.

Start Date

Start date of the linked portfolio.

End Date

End date of the linked portfolio.

Use the Project Budgets tab to link existing Project Budget Plans to the Portfolio Budget Plan. You can also create new Project Budget Plans from this tab.

Field Description
Project Budget Project Budget Plan record ID.
Name Name of the Project Budget Plan.
Status Current status of the Project Budget Plan. This field updates automatically when the Project Budget Plan status is updated.
Budget Type The type of budget plan, can be Project, Service, Entity or Other.
Service

Displays the service selected in the Service field for the Project Budget Plan.

This field is blank if you you did not select Service in the Budget Type field for the Project Budget Plan.

Planned Amount

The planned spend for the Project Budget Plan.

Remaining Budget

The remaining funds left in the Project Budget Plan.

To link a Project Budget Plan to a Portfolio Budget Plan:

After you have created a Project Budget Plan, you can link it to the Portfolio Budget Plan.

1.Log in to the Service Desk console.

2.Open the Portfolio Budget Plan workspace.

3.Open the Portfolio Budget Plan from which you want to link a Project Budget Plan.

4.Select the Project Budgets tab, and then click the link button .

The project budgets are displayed.

5.Choose the project budget you want to link, and then click Select.
The Project Budget Plan is added to the Project Budgets tab list.

To create a new Project Budget Plan from a Portfolio Budget Plan:

1.Open the Portfolio Budget Plan workspace.

2.Open the Portfolio Budget Plan from which you want to create a Project Budget Plan.

3.Select the Project Budgets tab, and then click New Project Budget.
The New Project Budget Plan form is displayed.

4.Enter information into the fields.
refer to Creating a Project Budget Plan for more details on creating a Project Budget Plan.

5.Click Save.

To edit an existing Project Budget Plan from a Portfolio Budget Plan:

1.Open the Portfolio Budget Plan workspace.

2.Open the Portfolio Budget Plan from which you want to create a Project Budget Plan.

3.Select the Project Budgets tab, and then double-click the Project Budget Plan you want to edit.
The Edit Project Budget Plan form is displayed.

4.Edit the Project Budget Plan as required.

5.Click Save.

If you need to edit information that is not available on the Edit Project Budget Plan form, you can open the full Project Budget Plan record by selecting the required entry, and then clicking the Go to button.

Use the Activity History tab to manage communication and investigation actions associated with the Project Budget Plan. The Journal business object displays and manages notes and email messages linked to the parent business object.

If the Activity History tab is not displayed, click the Restore hidden tabs icon and select the tab from the list.

Emails and notes are automatically added to the Activity History list. You can also manually add an item to the activity history for further documentation of a business object.

To add an email:

1.Click New Record Menu and select New Email.

2.Enter the details in the New Email window, and then click Save.

To add a note:

1.Click New Record Menu and select New Notes.

2.Enter the details in the New Notes window, and then click Save.

To manually add an activity history item, refer to Creating an Activity History Item.

You can attach files, images, or add URL's to Portfolio Budget Plans, enabling users to access additional data not limited by the defined fields.

If the Attachment tab is not displayed, click the Restore hidden tabs icon and select the tab from the list.

To add an attachment or URL, refer to Adding an Attachment.

Lists audit details associated with the Portfolio Budget Plan.

If the Audit tab is not displayed, click the Restore hidden tabs icon and select the tab from the list.

The Audit tab displays the following information.

Field Description
Date Date when the budget plan was created.
User Name of the person who created the budget plan.
Event Type Type of event.
Description A summary of the budget plan.