How to Manage Ideas › The Idea Approval Process › Create an Idea › Create a Cost Plan for an Idea

Create a Cost Plan for an Idea

You can create a cost plan for an idea. Cost plans can go through an approval process to become a formal budget plan.

Follow these steps:

1. Open Home, and from Demand Management, click Ideas.
2. Open an idea.
3. Click the Financial Plans tab.
4. If you see the following error, click the Properties tab, assign a Department OBS, and click Save.

   You must associate this investment with an entity before a financial plan can be set up.
   

5. Click the Financial Plans menu and select Cost Plans.
6. Click New Manual Plan.
7. Complete the required fields.
8. To link the cost plan to a benefit plan, click Browse in the Benefit Plan field and select a plan.
9. Click Save.
10. Click the Detail tab.
11. Click Add to list the cost types and transaction classes for your plan. For example, you can add operating costs for hardware.
12. Click Save and Return.
13. On the Cost Plan Details page for an idea, click in the cells under Amounts By Period.
14. Add costs and units for each transaction class.
15. (Optional) To insert costs from an existing investment team, click the Actions menu and select Populate from Investment Team.
16. Click Save.