SAP PS - Budget Management

Budget is defined as the approved cost for a project and it is different from the cost plan. The Budget is the approved cost from management for expected development of order cost for a given time period. Different budget types exist in a Project system.

Original Budget

In Project system, original budget is defined as the allocated cost assigned for a development order. You can update the budget using the budget update options.

Budget update is known as the unexpected events that occur. Current budget is calculated from the following factors −

• Original Budget
• Supplements (added)
• Transfers (addition/subtraction)
• Returns (Subtraction)

SAP PS – Budget Profile

You can define the budget profile for projects in SAP system.

To create a budget profile −

Step 1 − Use T-code: OPS9 or navigate to SPRO → IMG → Project System → Cost → Budget → Maintain budget profiles in SAP

Step 2 − A new screen Budget Profile for Projects overview will appear. Click New Entries.

Step 3 − In the new window, enter the following details −

• Profile − Enter the unique ID that identify the budget profile

• Text − Enter the text description

• Time Frame − Enter the number of years for budget. It has three options: Past, Future and Start

• Total Values − This is used to select budget as over value

• Annual Values − Maintaining budget for yearly basis

• Investment Management − Program type budget for an investment program

• Other fields like Availability Control, Currency translation and budgeting currency.

Once you enter all the fields, click the save button at the top.