| To use budgets in a project |  |
| You can use the Project Planning of Project to draw up, analyze and amend a project budget that can be based on elements or activities. If you finalized the project budget, use the PTC module to derive a second budget, called a control budget. You can apply late changes to a finalized budget by means of adjustments and/or extensions. Element-based budgets If you want to create a budget based on elements, PTC enables you to: Create elements to represent the main parts of your project. Position the elements in a hierarchical structure. Enter budget lines of cost objects against the elements. For example, hours worked on a ship haul is a labor line. Activity budgets If you want to create a budget based on activities, PTC enables you to: Create budget versions to keep track of changes in your top down budget. Distribute amounts to activities that are created in the Project Requirements. Assign the earned-value-method-related data, in order to manage which of the budget amounts can be released. Generate the budgeted cost work scheduled (BCWS) amounts. Purchase budgets You can create one or more purchase budgets to procure cost objects with long delivery times, thereby bypassing the step-by-step process of project budgeting and execution. Control budget When you finalized the project budget, you can create a control budget for use in: Generating planned orders in the PRP module. Recording progress with the PPC module. Recording actual costs in the PPC module. Generating invoices for customers in the PIN module. After choosing a budget, the logical next step is to work on: To use costs Related topics To use element-based budget lines To use a top down budget To use a bottom up budget To use a time-phased budget To use baselines in Project To use purchase budgets To use a control budget How to use budget hours To generate budgeted costs work scheduled To use cost- and purchase prices for non-labor cost objects To use sales prices for non-labor cost objects To use budget cost analysis To use extensions |