Budgets

Fill in the necessary information: * denotes a required field

 

Project*: use the drop-down list to select the project. Note: a project can only have one budget, any changes to the budget must be done using Budget Requests

Revision: this field will be automatically populated by PMWeb (the starting revision number is setup by your PMWeb Administrator).

Date: this field will be automatically populated by PMWeb with the current date.

Status: this field will be automatically updated if workflow has been configured with this record type. If not, you can change it manually.

Estimate: this field will be automatically populated by PMWeb if the budget was created from an estimate in the Planning module.

Description: add a description.

Click on the button to save your record.

In the toolbar of the Details grid, click on the button to open a new line for editing. Use the drop-down lists and textboxes to enter your information. Once you are done, click on the Save button to save your budget line. Repeat this step as many times as many budget lines you have.

 

Note: Project Budget and Owner Budget can be used side by side to track internal and public budget numbers. By default, Owner Budget and Project Budget are synchronized, but the administrator can change this setting and allow them to be different if desired.

An alternative to adding individual cost codes, as shown in the previous step, you can used the In the toolbar of the   button to add them in bulk. 

 

In the Details grid, click on the button to open the Cost Codes dialog. Select the individual Cost Code(s) or entire folders and drag and drop them to the right hand side of the screen. Click on the Save and Close button to close your dialog and add the items to your budget details.

 

 

Click Save to save your changes to the record.

Click to update the task dates. The dates will be updated based on the dates in your schedule module, if you have tied any tasks to the budget line items (see the Grid Details step). 

By checking this box, you can choose to unitize your budget.

Click on the icon on one of the lines in the Details spreadsheet to open the Projection dialog.

 

 

In the From and To fields, use the drop-down options to select the period from and to. Note: you need to set up Periods before you can do the budget projection.

Select the Curve from the drop-down list then click Projection. A spreadsheet and a chart appears showing the amount spread over the range of periods you selected.

 

 

Period Projection is only one method of tracking cash flow in PMWeb. You can also use:

- Value loading the PMWeb schedule,

- Editing the Start, Finish and Cure fields on the transaction line.

 

Period Projection can be used in:

- Budgets,

- Budget Requests,

- Forecasts,

- Commitments.

 

Note: you can project units as well as currency values.

Line#: This field will be automatically populated by PMWeb.

Group 1: This field will be automatically populated by PMWeb based on the Cost Code selected.

Cost Code*: Select the Cost Code associated with the line item.

Description: This field will be automatically populated by PMWeb based on the Cost Code selected. Note: you can also add or modify the description if needed.

Original Owner Budget: This field represents the original requested budget amounts. This field can be automatically populated by PMWeb based on the value entered in the Original Project Budget field if your Settings are set to do so.

Original Project Budget: Enter the the approved budget amount for that line item.  This field will automatically populate the original Original Owner Budget field if your Settings are set to do so.

Funding: Click the icon under the Funding field to set funding percentages or amounts for that line item.  The current funding sources will be displayed based on what Funding Records or Requests have been endered in the Funding module.  Enter either the percentage or cost for each funding source and click save (PMWeb will automatically update either the percentage or the amount fields based on your entry).  The funding field will now be populated with an amount based on values entered in the funding screen.

Company: Select the company associated with the line item if applicable.

Task: Select the task associated with the line item. The options available are based on the tasks established in the schedule module.

Budget Period: Select the budget/accounting period of the line item. The options available are configured by your Administrator in the Portfolio>Lists>Periods menu.

Start: This field will be automatically populated by PMWeb based on the task selected (based on the start date of the task). This field can also be manually populated.

Finish: This field will be automatically populated by PMWeb based on the task selected (based on the finish date of the task). This field can also be manually populated.

Curve: Select the cash flow curve (bell, linear, etc.) of the line item.

Notes: Enter details regarding the line item.

Phase: Select the phase (design, construction, etc.) associated with the line item. The options are configured by your Administrator in the Porfolio>Lists>Projects menu.

Location: Select the location (building 1, 2 etc.) associated with the line item. The options are configured by your Administrator in the Porfolio>Lists>Projects menu.