TABLE OF CONTENTS

• Budget Approval
  • Who approves Budgets
  • Approval Process
• Cancel Budget
• Revise Budget

Budget Approval

Who approves Budgets

We use the Approval Processes Configuration reference to determine Budget Approvers. 

Generally, the Project Owner is an Approver. This can be changed on your request, for example, static Employee, always approve budgets automatically, etc. 

If the Employee who sends the Budget for approval is equal to the Budget Approver, the Budget is approved automatically. Additionally, some users permissions are configured as not approval required.

Approval Process

Budget creation.

Once you create a Build Plan Budget and save it, it goes to the pending status and available to view in the BP Budget tab.

Sending the Budget for approval.

After you send the Budget for approval, it creates a job for a Budget Approver.

On the Budget tab, you can see that there is an active Budget Approval job.

Task for the Budget Approver.

A Budget Approver receives a job. 

The Approver can complete the job with results:

Approve — moves the Budget to the approved status.

The approved Budget displays in the Current column on the BP Budget tab. Approved Budget details are available in the Status, WIP and P&L dashboards.

For revision — the Budget cannot be approved and has to be revised. Comments are mandatory for this option to complete the job.

As the job initiator, you will receive a notification about the job results.

• Make changes in the Budget and send it for re-approval.
• Or reject this version of Budget.

Reject — transfers the Budget to the rejected status. Again, comments are required to complete the job. The Budget Approval initiator will receive a notification about Budget rejection.

Cancel Budget

You can cancel only pending Budgets. To do this, open the Budget card and click to Cancel.

Revise Budget

Use Revise option in the Budget card to reallocate Budget funds, increase or decrease Budget amounts.

Revise option is available for approved Budgets.

When you click on the Revise, it creates a new pending Budget. Once the next version of Budget is approved, the previous one goes to the obsolete status.

Read more about Budget:

Build Plan Budget and Budget Templates

Monitor Build Plan Budget