Create a demand cost plan

Demand cost plans capture the costs of demands. Create a cost plan to specify the unit cost of a cost type for a fiscal period.

Before you begin

Role required: it_demand_manager

About this task

The application automatically creates cost plan breakdown records when you save the cost plan. The cost plan breakdowns are records that specify the estimated and actual costs and the budget at a granular level for specific fiscal periods, such as FY16: April and FY16: May.

Note: Cost plans are automatically created for resource plans that are associated to demands.

If you want to use multiple currencies, create a new cost plan for another currency.

Procedure

  1. Open the demand form.
  2. In the related links, click Cost Plans.
  3. Click New.
  4. Fill out the cost plan form (see table).
  5. Click Submit.
    Table 1. Demand plan form fields
    Field Description
    Name Provide a descriptive name for the cost plan.
    Cost type Select the cost type. See Create a cost type definition.
    Start fiscal period Choose a starting fiscal period.
    End fiscal period Choose an ending fiscal period.
    Quantity Enter the quantity of resource required.
    Task Review the demand number.
    Currency Select a currency type.
    Total Cost Review the total cost. If the cost is recurring, the calculation is Quantity x Unit cost value x number of fiscal periods.

    If the cost is non-recurring, the cost is Quantity x Unit cost value

    This value is rolled up from the cost breakdown.
    Unit cost Enter the cost of single unit of the resource
    Recurring Select the check box if the cost is recurring for each fiscal period.

    Quantity x Unit cost value is incurred for every fiscal period.

What to do next

On the Demand form, view the breakdowns by fiscal period in the Cost Breakdowns related list.