Time-phasing

Budget

Time-phasing your budget lets you plan expenditures for your project within active fiscal periods, letting you break down budget planning into manageable short-term goals. Enabling time-phasing lets you plan your budget and spread it throughout the length of the project per cost item.

You can enable time-phasing for budget at the organizational level to set the default for all the projects within that organization. By default, new projects will inherit the organization settings.

Enable time-phasing for budget

To enable time-phasing the budget for your project, you must have start and end dates assigned to cost items. When you switch the Budget toggle to On, and do not have start and end dates assigned to cost items, a Cost items are missing start and end dates dialog box shows.

You can select from the following options:

Default all budget to current fiscal period — The first option you have is to default all of the budget to the current fiscal period. Then, all cost items that don't have defined start and finish dates have the current budget going to the current fiscal period.

For example, if you look at WBS phase code 1007, you would have $100,000 put into December 2020.

Default to project start and end dates — On the project details page you define all the project start and end dates. After those are defined, then we can default all those missing start and end dates to just the project start and end dates.

Go back and populate the missing dates — You can also return to the Time phased budget step and manually populate the missing dates. If you choose this option, the budget setting turns off again (if it wasn't already turned off and on again in previous sections). You then have to go into the CBS and manually enter all the start and finish dates. Then, you could turn the budget setting back on and it should distribute the budget.

Currently, time-phased budget data can only be seen in the CBS contract adjustment.

Click Confirm after selecting an option and then save your setting.

Edit previous time-phased budget values

You can enable the Edit past Time phased budget values toggle to edit past fiscal period time phased budget values.

When this setting is enabled and with the applicable permissions, you can edit your past time phased budget values via a budget move or a contract adjustment in the time phased budget step.

You can also select to edit time phased budget for closed periods. When you want to edit time phased budget for closed periods, enable the Edit past Time phased budget values toggle.

Switching off time phasing budget

When the Time phasing budget is enabled, it means that there is time phasing budget data in the database. If you disable time-phasing for the budget at the project level, the following warning message shows:

All of your time phased budget data is deleted when you switch time phased budget off. You must acknowledge that the data will be deleted by selecting the check box in the dialog box.