How to Manage Ideas › The Idea Approval Process › Create an Idea › Financial Plans for Ideas

Financial Plans for Ideas

You can create and manage the following types of financial plans for an idea to track its costs:

• cost plans
• benefit plans
• budget plans

Submit cost plans for approval like any other type of investment. After approval, the cost plan becomes the current budget plan. You can also associate a benefit plan with a cost plan or a budget plan. After you create a financial plan, you can include it in administrative processes or XML Open Gateway (XOG) transactions.

Note: The actuals in the financial plans, manual transactions, and the chargebacks are not financially enabled.

The following limitations exist for a financial plan on an idea:

• Actuals using transactions are not possible.
• Only a manually created cost plan (plan of record) can be converted to a target investment. A cost plan that you create using the methods Populated from Investment Team or Task Assignment is not converted.
• A budget plan cannot be converted to a target investment.
• A workflow system action is not available to convert an idea financial plan to a target investment. An idea financial plan can only be converted through the user interface.