Create a project cost plan

Create a cost plan to specify the unit cost of a cost type for a fiscal period. Project cost plans capture the costs of projects.

Before you begin

Role required: it_project_manager

Application required: Project Portfolio Management with Financials

About this task

The application automatically creates cost plan breakdown records when you save the cost plan. Cost plans can also have associated expense lines.

Note: Cost plans are automatically created for resource plans that are associated to projects and project tasks.

To use multiple currencies, create a new cost plan for another currency.

Procedure

1. Open the project form.

2. From the related links, select Cost Plans.

3. Select New.

   Note: To create a cost plan from the Financials tab in Project Workspace, select Manage.

4. On the form, fill in the fields.

   For field information, see Cost Plan form.

   Note: When you change the planned start date of a project, the associated cost plans and resource plan also change. The project property Change Resource Plan and Cost Plan Start Date with Demand or Project Start Date Change controls the behavior for project start date change.

5. Select Submit.

What to do next

To recalculate the values in the Estimate at Completion field, use the Calculate Estimate at Completion related link. To view the cost plan breakdowns, select the Cost Plan Breakdowns related list.

• Update a cost plan breakdown
  Update a cost plan breakdown record that specifies the estimated and actual cost, at a granular level, for specific fiscal periods.
• Enable cost rollup calculations
  Enable rollup calculations from the project properties.
• View actual project costs
  When you are using Project Portfolio Management with Financials, you can view actual project costs on cost plans and projects.

Parent Topic:Starting a project

Related topics

Create a project task from a project

Create a parent-child relationship on the Project Task form

Create a monetary benefit plan for a project

Create a non-monetary benefit plan for a project

Associate monetary and non-monetary benefit plans

Recalculating costs of all resource plans in a project

Create an expense line

Create and manage waterfall projects

Update a project

Copy a project

Assign a project schedule

Create baseline of a project

Create a milestone

Activate project task email notifications

Change the planned start date of a project

Create a cost type definition

Costing add-on in Project Management

Generate labor costs

Create a project status report

Allocate budget to a project

Migrate budget of active projects to Next Experience

Migrate financial baselines of projects to Next Experience

Cost plan breakdown

Update a cost plan breakdown

System-generated cost plans