Using Budget Changes to Manage Budgets and Forecast
Project budgets and forecasts can be affected by events such as design iteration, scope changes, and budget reallocation. Cost enables you to manage these change events under Cost Management/ Budget Changes.
Note that although related, budget changes is separate to the contract change process. If you need to manage both budget changes and contract changes together, you should use Change Events.
Budget Changes can affect the cost worksheet in different ways depending on organization and project settings, which are modified under Cost Administration.
Changes to organization settings will only cascade down to new projects and their settings.
These options can be set up in:
Cost Administration/Project/Data/ Project Settings or Cost Administration/Organization Data/Organization Settings.
- In the toolbar under Budget Changes click the Add item button.
- Complete the information in the Add Change window.
- Click Add Change.