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com/

Step 1.1

Raju Ch

Create New Cost Budget

Navigate to:

Budgets

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Project Number:
Project Name:
Budget Type:
Select:

appropriate Version of the budget.

A Enter
- Select from list of values.
E Optional
Enter a short description, describing your budget.

Version Name:
Change Reason:
Description:
Entry Method/
Resource List:

R Status:
New Original:
Step 1.2

B
.
Enter the Project Number
which a budget is being created. OR
8 forforwhich
Enter the Project
Name
a budget is being created.
8
Use the List of Values to choose the Approved Cost Budget Type.
S
FindP
Draft
P
Verify that the Entry Method/ Resource List is appropriate for
the new budget. A new Entry Method/ Resource List may be
selected, but the existing definition will then be deleted. The Entry
Method/ Resource List defaults from the Project Type setup.
If the budget has not been Submitted or Baselined, the budget will
have a Working Status
If the budget is the first, the New Original field will be enabled

Enter Cost Budget details

Decide on the level of detail needed for tracking cost on a specific project. The Budget Entry
Method selected determines the following Budget attributes:

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Raju Ch

1) Budget Entry Level - Project, Top task, Lowest task or Top and Lowest Task
level.
2) Timephase - Specified Date range, GL period, PA Period or None.
If the amounts are not entered by period, Oracle assumes an even division of
the budget over the period of the project or task.
3) Detail of budget - Summary budget line or budget lines Categorized by
resources.
4) Amount Types Quantity, Raw Cost and/or Burdened Cost entry.
The Resource Lists selection and the way in which Resource Lists are defined will also have
an impact on the level of detail.

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A more detailed budget allows more detail in status tracking and exception analysis. A detailed
budget requires more time and effort to plan, create, enter, and maintain the budget amounts, but
can provide valuable insight into the project status.

The next form that will be displayed depends on the Budget Entry Method.

If Task level budget entry has been selected, the displayed form (See next) will show the totals
for each task. Budget values will have to be entered on an additional Task level form (See
Budget Lines form).
Select:

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8

S
P

A
E

Details

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Raju Ch

If Project level budget entry has been selected, the above form will not be displayed. The
application will display the Budget Line form (See below).
Select:

Budget Lines
This example: Budget Attributes for Budget Entry Method By lowest task, PA period:

Budget Entry Level:

Timephase:
Detail of budget:
Amount Types:

Lowest Task
PA Period
Resource List
All Cost Amount Types

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This example: Budget Attributes for selected Resource List:

Resource Groups:
Resources:

LABOR & EXPENSES

Employees and Expenditure Types

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8

S
P

A
E

R Resource:

Amount Type:
Value:
Select:

Using the list of values to select the appropriate resource/resource

group for the budget line. Available values will depend on the
Resource List setup. You cannot budget simultaneously for Resource
Groups and Resources belonging to that same Resource group.
Choose between Quantity, Raw Cost and Burdened Cost
Enter budget Value in appropriate column/ period
Up/Down arrows at the top of the form to navigate between tasks.
Enter budget values for all appropriate Tasks.

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Navigate:

Raju Ch

Close Form/s and return to the Initial budget form

Step 2.3 Submit Cost Budget (for Approval)

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Select:

Submit

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8

S
P

Once the budget has been submitted, the status has changed to Submitted. No additional
changes are allowed to a Submitted budget. If a need to modify the budget is identified at this
point, select Rework to change the status back. Changes are then allowed.

A
E

Step 2.4 Baseline Approved Cost Budget

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Raju Ch

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Select:

Baseline

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8

After the manager approves the budget, select Baseline to complete the budget approval
process. Submit and Baseline processes check a number of items. If errors are identified,
resolve the item and re-perform the process.

S
P

Step 2.5 Review Budget History

When a budget is baselined, the history button becomes available. PA keeps a record
of all previous baselined budgets and they can be reviewed by selecting them in the
history area.

A
E

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Raju Ch

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Select:

History

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8

S
P

A
E

Step 2.0

Revenue Budgets

Project Accounting requires a revenue budget be created and baselined for all contract projects
before generating any Revenues or Invoices. The revenue budget amount must equal the

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projects funding agreement in order for the budget to be Baselined. In addition, if the contract
project has a distribution rule of Cost, an approved cost budget must also be submitted and
baselined prior to being able to baseline an Approved Revenue budget.
Step 2.1

Create New Revenue Budget

Navigate to:

Budgets

.C

.B
8

Project Number:
Project Name:
Budget Type:
Select:

A Use the List of Values to choose the Approved Revenue Budget Type.
E Find Draft

Version Name:
Change Reason:
Description:

Enter an appropriate Version name/number for your budget.

Optional - Select from list of values.
Enter a short description, describing your budget.

Entry Method/
Resource List:

Verify that the Entry Method/Resource List is appropriate for the new
budget. A new Entry Method/ Resource List may be selected, but the
existing definition will then be deleted.
If the budget has not been Submitted or Baselined, the budget will
have a Working Status
If the budget is the first for the project, the New Original field will be
enabled

S
Pthe Project Number for which a budget is being created. OR
Enter
P
Enter the Project Name for which a budget is being created.

Status:
New Original:

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Step 2.2

Raju Ch

Enter Revenue Budget details

Decide on the level of detail needed for tracking revenue on a specific project. The Budget Entry
Method selected determines the following Budget attributes:
1) Budget Entry Level - Project, Top task, Lowest task or Top and Lowest Task
level.
2) Timephase - Specified Date range, GL period, PA Period or None.
If the amounts are not entered by period, Oracle assumes an even
division of the budget over the period of the project or task.
3) Detail of budget - Summary budget line or budget lines Categorized by
resources.
4) Amount Types Quantity (UOM for Resource) and/or Revenue entry.

.C

The Resource Lists selection and the way in which Resource Lists are defined will also have an
impact on the level of detail.

A more detailed budget allows more detail in status tracking and exception analysis. A detailed
budget requires more time and effort to plan, create, enter, and maintain the budget amounts, but
can provide valuable insight into the project status.

The next form that will be displayed depends on the Budget Entry Method.

.B
8

If Task level budget entry has been selected, the displayed form will show the totals for each
task. Budget values will have to be entered on an additional Task level form (See Budget Lines
form).
If Project Level budget entry has been selected, the displayed form will be for entering the
Budget Line values.

S
P

P
Details

A
This Example:
E Budget Attributes for Budget Entry Method Project level, GL period:
L
Budget Entry Level:
Project
C
Timephase:
GL Period
A
Detail of budget:
Summarized
Select:

R Amount Types:

All Revenue Amount Types

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Raju Ch

.C

Resource:
Amount Type:
Value:

Default value None

For Revenue budget types choose between Quantity and Revenue. The
Unit of measure will depend on the Resource
Enter a budget Value in the appropriate column/period

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S
PBudget (for Approval)
Step 2.3
Submit Revenue
P
No changes
are allowed to a Submitted budget. If a need to modify the budget is
A
identified
after
E a budget was submitted, select Rework to change the status back to
Working. Changes are then allowed.
L
C
A
Navigate:

Close Form and return to the Initial budget form

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Raju Ch

.C

Select:

Submit

.B
8
When the budget is ready, select
Baseline to complete the budget approval process.
8
Submit and Baseline processes check a number of items. If errors are identified,
Sthe process.
resolve the item and continue
P
P
A
E
L
C

Step 2.4

Baseline Approved Revenue Budget

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Raju Ch

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Select:

Baseline

B
.
When a budget is baselined, the history
8 button becomes available. PA keeps a record
of previous baselined budgets 8
and they can be reviewed by selecting them in the history
area.
S
P
P
A
E
L
C

Step 2.5

Review Budget History

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Raju Ch

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Select:

History

.B
8

S
P

A
E