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6. Budgets

Updated: Dec 7, 2023

The first step in post contract management is to establish the original budget that you will track commitments. These budgets may be used for projects in pre or post contract management. Typically, this is completed via an import from Excel, though there are few methods available to you for entering your cost data. Depending on the size and complexity of your cost breakdown, you may choose to enter your budget against a defined structure, create your own structure, or import your costs from an Excel sheet. This section explains all three methods.


Using a Defined Budget Structure

To create your project cost budget, select your project from the project drop down list. When you then go to the Costs module you will find your project cost code budget structure. It may be that case that your organisation has a number of predefined cost structures, and these structures can be found via the cost codes drop down menu. The cost codes may vary in detail from very high-level structure, to a more detailed and granular. Select your desired cost code structure.


Creating Your Own Cost Code Structure


Where the structure is defined at a high level, you can actually create your own project specific cost breakdown structure. To do this, choose the Blank cost structure from the drop-down list.

From this point you can create your own cost code structure. To do this, simply select the arrows located on the right-hand side. A new window will pop up and allow you to create the next level of your data structure.

After clicking Save notice that the right-hand side of your new structure has the same arrow icon. This means that as you need additional levels of detail, you can click on the arrow, to expand down to the next level.

This allows you the flexibility to create codes to addition levels and per the structure that suits your particular project.

When you come back up to the top level of your budget, you will be able to select the view depth of your budget.


Data can only be entered at the bottom level of your code structure. All values entered against your budget line items will calculate up to the higher level code, and ultimatley provide you with a total project budget at the top level.







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