Create and promote a budget plan

As part of the Project Portfolio Suite with Financials integration, you can create and promote a budget plan for a portfolio.

Before you begin

  • Role required: it_portfolio_manager
  • The Portfolio Planning field for portfolio must be set to Advanced on the Portfolio form.
  • The name of the portfolio manager must be set in Portfolio Manager field on Portfolio form.
  • The budget period for the selected fiscal period must be open to create and promote a budget plan for a portfolio.
    Note: PPS admin can also open and close the budget period for a fiscal period from Project Administration > Open/Close Budget Periods.

About this task

The budget plan includes costs from all selected projects and demands. The budget plan summary is displayed on portfolio workbench and the details can be seen in Financial Planning. In the advanced planning mode, the creation of a budget plan is mandatory to be able to track the portfolio.
  1. Navigate to portfolio workbench, and open the portfolio that you want to track.
  2. Click Promote Budget Plan under Step 3: Budgeting.

Result

  • The budget plan for the portfolio for the selected fiscal year is created and promoted. You can re-promote the budget plan, if required.
  • A budget task with the status Pending Approval is created when the portfolio manager promotes the budget plan, the first time in the budgeting period. The status of the task is visible in Portfolio Workbench.

What to do next