Select the fiscal year and set targets

The first step in both Simple and Advanced planning for a portfolio is to select the fiscal period for the data that you want to work with. Next, set the target amounts for both operating and capital expenses.

Before you begin

On the Portfolio form, set the Portfolio Planning field to Simple or Advanced for the portfolio.

Role required: it_portfolio_manager

About this task

Typically, the target amount is provided by the steering committee or the investment committee. Based on the actual amount spent in the last fiscal year, the target for the planned fiscal year can be 110% of the amount spent in the last year. The target is the starting point for planning projects for the next fiscal year.

The budget target can also be set with ITFM Budget Targets. The target defined in ITFM can also be modified in portfolio workbench.

Procedure

  1. Access the Portfolio workbench and open the portfolio that you want to perform the planning for.
  2. In the Fiscal Year choice list, select the year that you want to perform the planning for.
    You can perform financial planning for only one fiscal period at a time.
  3. In Step 1: Set Target, click Set Target.
  4. Enter the amounts for Capex Target and Opex Target.
    Note:
    • If target has been set in Budget Targets (in ITFM), they are defaulted and you can override the values from the portfolio form / workbench.
    • The currency value is derived from the currency property com.glide.financial_management.currency_code. If the property is not set, the currency is derived from the global currency of the instance.
  5. Click Save.

Result

The budget target appears in step 1. You can click the target amount to revise the amount.

What to do next

Select demands and projects for portfolio planning.