A financial plan is a tool that helps project managers estimate and predict future cost requirements for investments or services. The financial planning tools let project managers to model in detail where cost or revenues for a specific period might occur and to create the budget most suitable for business needs.
Finance managers set up defaults that define how financial plans can be created and the financial time periods used. Project managers can create multiple financial cost plans as estimates for a budget and then submit the most appropriate cost plan for approval as a budget. Finance managers approve submitted cost plans.
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