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Create a project cost plan

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Create a project cost plan

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

Before you begin

Role required: it_project_manager

Application required: Project Portfolio Suite with Financials

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. Cost plans can also have associated expense lines. The Cost Breakdown related list shows the aggregated costs for estimated and actual budget costs for each fiscal period for the project.
Note: Cost plans are automatically created for resource plans that are associated to projects and project tasks.
To use multiple currencies, create a new cost plan for another currency.


  1. Open the project 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. Cost plan form fields
    Field Description
    Name Provide a descriptive name of the cost plan.
    Cost type Select the cost type definition.
    Start fiscal period Choose a starting fiscal period.
    End fiscal period Choose an ending fiscal period.
    Quantity Enter the quantity of the sources required.
    Task Review the project number.
    Currency Select the 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 this option if the cost is recurring for each fiscal period.

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

    Note: When you change the planned start date of a project, the associated cost plans and resource plan also change. The project property Change Resource Plan and Cost Plan Start Date with Demand or Project Start Date Change controls the behavior for project start date change.