Budget Planning Overview
- Budget is the approved cost structure for a project.
- The budget is the limit set by management for Repairs & Maintenance costs over a certain period of time.
- Budgets can be distributed hierarchically within the project structure.
- Budget availability control enables you to control costs actively by issuing warnings & error messages when tolerance limits of the budget are exceeded because of assigned values.
- Costs of orders assigned to your project can be analyzed in project reporting & will be checked against the project budget.
Procedure for activating Budget using WBS Element
- Creaing Budget profile
- Defining Tolerance Limit
Creating Project with WBS element
Assigning Budget for WBS elements
In the above screen we can allocate budget to each WBS element yearly.
Creating Maintenance Order
Here as you can see i have assigned material for the required job , in the following screen you can see the total spares cost .
Assiging the WBS to the Order in Addtional TAB
On Saving the order you can find the Error message as show below
You can find the error message by accessing Goto>Logs>Cost Determination
The same will be applied for External service and External Material Procurement