A customer budget definition's life cycle enables you to track the changes over time. In its lifetime, a customer budget definition passes through a series of stages. There is a start date and an end date associated with a customer budget definition. In the interim, a customer budget definition can enter different stages depending on the changes made to its data. A new life cycle can be added using the Add modification action on the budget definition.

Changes can be applied to the budget definition's scope over an active period , for example by linking new Properties, Assets, or Contract lines .