Completing a project within a stipulated budget is as important
as finishing the project on time. Use the Financials viewlet to forecast
budgets and track expenditures against those budgets.
Before you begin
Use the Financials viewlet to perform
this task. In the navigation bar, click Work,
and click the Financials tab.
If
you have JazzAdmins permissions, when the charge codes were created,
you must have selected the
Category check box.
If no charge codes were specified as categories, then nothing is available
for selection when you track non-labor expenses and budgets. The charge
codes are associated only at the project level.
Procedure
- In the Work view, make sure that the Financials viewlet
is open.
- From the WBS tree, select a project.
- Optional: If the labor forecast type for the
project is manual:
- In the Labor Revenue row of the Budget section, double-click
the Forecast field to enter a value.
- In the Labor Cost row of the Budget section, double-click
the Forecast field to enter a value.
Typically, you complete this step if you selected Manual for
the forecast values of Labor Cost and Labor Revenue when you created
the project. If you selected Calculate, the
forecast values for Labor Cost and Labor Revenue are automatically
calculated based on the project level assignments of resource or profile
and resource rates for those assignments.
- In the Budget section, click Add to
add a new charge code to track financial information for.
- From the new row, select the category from the drop-down
menu in the Category column. These categories are defined
in the Project Management Administration view as charge codes with
the Category check box selected.
- Double-click the field in the Description column to enter
a brief explanation. This description can later help you
identify each category if you have multiple entries of the same type.
- Enter details in the following columns:
Note: The variances are calculated as follows
- Remaining (Forecast) = Forecast - Actual
- Remaining (Estimate) = Estimate - Actual
Margins are calculated by subtracting the total cost from
the Labor Revenue.
- Click Save. The total costs adjust
based on the values that you entered.
What to do next
Users can modify the forecasts, estimates, and actuals for
non-labor categories. To modify a budget entry, double-click the field,
edit the value, and click
Save. To remove a
budget entry, select the field, click the
Remove icon

, and click
Save.