How to Create Detailed Financial Plans › About Cost Plans › Define Cost Plans Manually

Define Cost Plans Manually

The following procedure describes how to define a cost plan from scratch. Select at least one grouping attribute before saving a cost plan. Grouping attributes not selected in the cost plan properties are not displayed in the line item details.

Follow these steps:

1. Open Home, and from Portfolio Management, click an investment (for example, Projects).

   The list page appears.

2. Open the investment.

   The properties page appears.

3. Open the Financial Plans menu and click Cost Plans.

   The cost plans list appears.

4. Click New Manual Plan.

   The create page appears.

5. Complete the following fields:

   Plan Name

   Defines the name for the cost plan.

   Plan ID

   Defines the unique ID for the cost plan.

   Description

   Describes the cost plan.

   Period Type

   Defines the type of time period for the plan.

   Default: The period type as defined in the entity plan defaults. If no period type is specified in the plan defaults, the period type from the entity properties is populated.

   Values: 13 Periods, Weekly, Semi Monthly, Monthly, Quarterly, and Annually

   Plan Start Period

   Defines the fiscal start period of the cost plan.

   Default: The start period is defined in the entity plan defaults. If no start period is specified in the plan defaults, the start period is based on the entity period type and start date of the project. If no active period is found for the project start and end date, no default start period displays.

   Plan End Period

   Defines the fiscal end period of the cost plan.

   Default: The end period is defined in the entity plan defaults. If no end period is specified in the plan defaults, the end period is based on the entity period type and the end date of the project. If no active period is found for the project end date, no default end period displays.

   Benefit Plan

   Defines the benefit plan associated with the cost plan.

   Currency

   Displays the entity home currency.

   Plan of Record

   Indicates if this cost plan is the plan of record.

   Grouping Attributes

   Defines the categories to use to define the cost plan line item detail structure.

   Default: The grouping attributes are defined in the entity plan defaults.

6. Save the changes, and click Detail.

   The cost plan details page appears.

7. Click Add.

   The page to select grouping attribute values appears.

8. Select one or more values for each grouping attribute and save.

   A line item detail row is created for each unique combination of selected grouping attribute values.

9. Review or complete the following fields as desired. You cannot edit the total fields:

   Total Cost

   Displays the total cost based on the costs specified for each time period.

   Total Units

   Displays the total units based on the units specified for each time period.

   Total Revenue

   Displays the total cost based on the unit and cost specified for each time period.

   % Total

   Displays the percentage for that line item detail based on the total cost.

   Unit, Cost and Revenue Details

   Defines the work effort units, cost, and revenue for each cost plan time period. The work effort units are based on the role or resource availability for the associated investment.

10. Save the changes.

More information:

Edit Cost Plans

Submit Cost Plans as Budget Plans

Approve or Reject Submitted Budget Plans

Grouping of Cost Planning Data

Processes for Financial Management