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

Create a Benefit Plan for an Idea

To calculate ROI or NPV on an idea, create a benefit plan and associate it with a cost plan. You do not need approval for benefit plans.

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 Benefit Plans.
6. Click New.
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 benefits by description, class, and subclass for your plan. For example, you can list programs to increase revenue or reduce cost.
12. Click Save and Return.
13. On the Benefit Plan Details page for an idea, click in the cells under Amounts By Period.
14. Add benefits for each benefit class by time period.
15. Click Save.