Create a demand benefit plan

Demand benefit plans capture the potential benefits accrued by the demand when the demand is executed. Create a benefit plan to specify the estimated benefit in a category for a fiscal period.

Before you begin

Role required: it_demand_manager

About this task

The benefit plan breakdown records are automatically created when you save the benefit plan. The benefit plan breakdown records specify the estimated and actual benefits at a granular level for specific fiscal periods, such as FY16: April and FY16: May. The Benefit Breakdown related list shows the aggregated benefits for estimated and actual benefits for each fiscal period for the demand.
Note: Converting a demand to a project transfers the benefit plan from the demand to the target project.

Procedure

  1. Navigate to Demand > Demands > All.
  2. Open the required demand form.
  3. Click theBenefit Plans related list, and click New.
  4. On the form, fill in the fields.
    Table 1. Benefit Plan form
    Field Description
    Name Descriptive name of the benefit plan.
    Project/Demand Demand number to which the benefit plan belongs.
    Sponsor Sponsor for the demand.
    Category Type of benefit:
    • Hard: Benefits that can be measured in terms of revenue.
    • Soft: Benefits that are measured in terms of value.
    Sub category Sub-categories of hard and soft benefits.

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

    Offset type Offset type field indicates when the benefits start realizing.

    If the value in the selected offset type changes, the benefit plan start date shifts accordingly. For example, if the offset type is set to End Date and the due date of the demand changes, the benefit plan start date shifts to align with the new due date of the demand.

    Project/Demand start date Start date of the demand. The field appears if you select Start Date in the Offset type field.
    Project/Demand end date End date of the demand. The field appears if you select End Date in the Offset type field.
    Offset Number of periods before or after the offset type when the benefit plan starts. For example, if the offset type is set to End Date and the offset is -2, the benefit plan is two periods prior to the demand end date. If the demand end date shifts, the benefit plan start date shifts to two periods prior to the new demand due date.
    Duration in periods The length, in periods, of the benefit plan.
    Start fiscal period Starting fiscal period. Populated based on the value in the Offset field relative to the selected Project or Demand start date or Project or Demand end date, and the Duration in period values.

    The field is editable if you select None in the Offset type field.

    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.

    Financials
    Currency Currency for the benefit plan.

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

    Planned benefit Estimated amount of the potential benefit.

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

    Total planned benefit Total benefit value that is rolled up from the benefit breakdown.
    Actual benefit Actual benefit value that is rolled up from the actual benefit in the benefit breakdown.
    Recurring Check box to indicate if the benefit is recurring for each fiscal period in the benefit breakdown.
    Note: When you move the demand dates, the associated benefit plans also change accordingly based on whether the benefit plan is tied to the demand start date, or end date. The project property Change Resource Plan, Cost Plan and Benefit Plan Start Date with Demand or Project Start Date Change controls the behavior for demand date changes.
  5. Click Submit.

What to do next

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