Defining budgets
Consider the following when defining budgets:
• Each unique combination of (sub) project and (sub) cost group can be assigned to only one budget.
• Upon creation, budgets are assigned the Initial status.
• Amounts can only be deducted from budgets when their status is set to Open.
• A budget can only be opened if the corresponding project status is set to In progress.
• The status flow of budgets is strictly controlled:
◦ Once a budget is assigned the Open status, it cannot revert to a previous status.
◦ An open budget cannot be deleted.
◦ Closed budgets cannot be updated.
Procedure
1. In the Budgets TSI, go to Budget categories.
2. Select the budget category to which you want to add a budget.
3. Go to the Budgets selection level.
4. On the action panel, click Add CapEx budget/Add OpEx budget.
6. Click Save.
You have defined a new budget.