Create a project benefit plan

Project benefit plans capture the potential benefits which can be accrued by the project, if the project is executed. Create a benefit plan to specify the estimated benefit in a category spanning one or more fiscal periods.

Before you begin

Role required: it_project_manager

About this task

The application automatically creates benefit plan breakdown records when you save the benefit plan. The benefit plan breakdowns are records that specify the estimated and actual benefits at a granular level for specific fiscal periods, such as FY17: April and FY17: May. The Benefit Breakdown related list shows the aggregated benefits for estimated and actual benefits for each fiscal period for the project.


  1. Open the project form.
  2. In the related lists, click Benefit Plans.
  3. Click New.
  4. Fill in the benefit plan form.
    Table 1. Project benefit plan form fields
    Field Description
    Name A descriptive name of the benefit plan.
    Sponsor The sponsor for the project.
    Start fiscal period Starting fiscal period.

    When you change the start fiscal period, the associated benefit breakdown values also change.

    End fiscal period Ending fiscal period.

    When you change the end fiscal period, the associated benefit breakdown values also change.

    Category The type of the benefit:
    • Hard: The benefits that can be measured in terms of revenue.
    • Soft: The benefits that are measured in terms of value.
    Sub category The sub-categories of hard and soft benefits.

    The Category field selection determines the selections available in this field.

    Currency The currency for the benefit plan.

    If the selected currency is different from the default currency configured in Financial Management, the budget reference rate is used to calculate the Planned benefit of the project.

    Task The project number to which the benefit plan belongs.
    Estimated benefit Estimated amount of the potential benefit.

    Any change in the estimated benefit on benefit plan updates the benefit breakdown values for future fiscal periods.

    Total benefit The total benefit. This value is rolled up from the benefit breakdown.
    Actual benefit The actual benefit. This value is rolled up from the actual benefit in benefit breakdown.
    Tracking type Indicates when the benefits will start realizing. Select any of the following options:
    • Milestone: After completion of a milestone.
    • End Date: After the project ends.
    • Start Date: At the start of the project.

    If the value in the selected tracking type changes, the benefit plan shifts accordingly.

    Milestone The project milestones to which the benefit plan belongs. The field appears if you select Milestone as the Tracking type.
    Recurring Indicates if the benefit is recurring for each fiscal period in the benefit breakdown.
    Note: When you move the project or the milestone date, the associated benefit plans also change accordingly based on whether it is tied to the project start date, end date, or one of the project milestones. The project property Change Resource Plan, Cost Plan and Benefit Plan Start Date with Demand or Project Start Date Change controls the behavior for project date changes.
  5. Click Submit.

What to do next

On the project form, view the benefit breakdown by fiscal period in the Benefit Breakdown related list.