3Project Budgets and Forecasts

This chapter contains the following:

 Considerations for Creating Budgets and Forecasts

 How Budgets and Forecasts are Copied
 Edit Budgets and Forecasts
 Import Financial Project Plans
 Import Project Budgets
 Import Project Forecasts
 Considerations for Award Project Budgets
 How Financial Plan Types and Project Budget Versions Work With Budgetary Control
 Considerations for Creating Control Budgets
 Create Control Budgets from Project Budgets
 FAQs for Project Budgets and Forecasts

Considerations for Creating Budgets and Forecasts

A budget or forecast version represents a specific planning scenario created with a financial plan
type. For example, a cost budget that's based on a set of proposed contract terms, or a cost
forecast that's based on an engineering estimate.

You can create a budget or forecast versions using any of the following methods:

 Generate budget or forecast versions

 Copy budget or forecast amounts
 Create budget or forecast lines manually

Generate Budget or Forecast Versions

You can generate budget or forecast versions based on other financial plans or from the project
plan. During generation, quantity from the source plan and rates derived from the target
financial plan type planning options are used to calculate amounts for the new version.

 Note: The ETC amount is always zero if you are using unplanned resources while
generating forecasts.

While generating a forecast, you can retain the spread for the source version across periods. In
this case, the application spreads the amounts for the remaining periods, and ignores any periods
that have actual amounts. You can enable the option to retain the spread of planned amounts
from the source at the financial plan type or the forecast version level.

Note: The planning resource breakdown structure is the only planning option that's inherited
from the source. You can't edit the planning resource breakdown structure.

Copy Budget or Forecast Amounts

You can create a version by copying another financial plan. Copy plan values without change, or
specify a positive or negative percentage by which to adjust amounts before the new version is
created.

NOTE: The copied version inherits planning options from the source financial plan. You can't
edit planning options for the new version during initial creation.

Create Budget or Forecast Lines Manually

When you manually create a budget or forecast version, the basic task structure is recreated
without any quantities, rates, or amounts. Budget or forecast dates are based on the planned dates
for tasks entered in the project plan.

To create the version efficiently, add the following at the selected planning level:

 Planning resources: Add all resources in the associated planning resource breakdown
structure.
 Financial resources: Add a placeholder resource so that you can enter amounts against
tasks without having to assign a planning resource.

Depending on your access, you can edit planning options inherited from the selected financial
plan type. Of course, generation options don't apply when manually creating versions.

NOTE:
While setting a financial project baseline, you can automatically generate a project budget and
set the baseline. However, if the project task structure contains a large number of periodic lines,
the budget generation process can take a significant amount of time before confirming the setting
of the financial project plan baseline. To reduce the delay in the creation of the financial project
baseline, you can defer the budget generation process and run it in the background.

Defer Financial Plan Creation

When the project task structure contains a large number of periodic lines, for example, over
10000 periodic lines, the application defers the financial plan creation. Depending on the
threshold value derived from historical data, the application decides whether to process the
financial plan generation immediately or to defer it.
Also, while setting a financial project plan baseline for a project with a large number of periodic
lines, the application defers the financial plan generation process and completes the financial
project plan baseline creation.

How Budgets and Forecasts are Copied

You can create a project either based on a project template or an existing project and copy
existing financial plan versions. You can select a financial plan version and copy to the new
project.

Copy Financial Plan Versions

When you're creating a project, the following parameters determine what and how financial plan
versions are copied.

Parameter Impact

Calendar type Calendar type: Whether financial plan types use the accounting calendar,
project accounting calendar, or none

Creation source and Whether the project is created from a project template or another project, and
version status the status of the financial plan version in the source

Status Whether the financial plan is in any of the following statuses:

 Current Working
  Current Baseline
 Current Approved
 Submitted

Note: For financial plan types that support cost and revenue in separate plan versions, both cost
and revenue versions are displayed and are available for selection separately, based on their
status.

Status When Financial Plan Versions Are Copied

Let's see what happens when you create a project from another project. Irrespective of the
version status in the source project, the financial plan versions are created in Current Working
status.

When you create a project from a project template, then you use template as the source, then you
can select one of the following options to copy a current baseline budget version:

 Copy the selected version as the current working version.

 Copy the selected version as current baseline version and as current working version.
That is, create two versions in the new project.

Here are some more details about copied version information:

Aspect of
Version Details

Generation If the copied financial plan version was originally generated or copied from another
and copy source, those details are copied over to the new project. However, if the version was
sources generated or copied from another financial plan version that you didn't select to copy,
then source information is deleted even though the budget or forecast creation method
remains unchanged.

Actual Actual amounts for forecast versions aren't copied to the new project. Estimate-at-
amounts completion (EAC) amounts are copied over as estimate-to-complete (ETC) and actual
amounts are set to zero.

Period When you copy financial plan versions that use an accounting or a project accounting
information calendar, then periods for the versions created in the new project are based on the
periods of the target project and task start dates.

If the source project or template doesn't have a date or you haven't entered a start date
for the target project, then periods are copied to the new financial plan version without
adjustment.

However, if both the source project or template, and target project have start dates, then
Oracle Fusion Project Portfolio Management performs the following actions:
 1. Calculates the number of periods between the following:
a. The period that contains the start date of the source project template or
project
b. The period that contains the start date of the new project
2. Derives the start period for each budget or forecast line in the new project by
adding the number of periods determined above to the period of the new start
date.

For example, assume your projects have the following start dates:

 Source project or template: September 1, 2010

 New project: December 15, 2010

If the financial plan version in the source project contains plan amounts for periods SEP-
2010, OCT-2010, and DEC-2010 (assuming monthly periods), then the financial plan
version in the new project will contain amounts in DEC-2010, JAN-2011, and MAR-
2011.

Oracle Fusion Project Portfolio Management assumes that all periods are equal. If your
periods are different lengths, then you must review plan amounts in the new financial
plan version and update them as required.

Edit Budgets and Forecasts

As a project manager, you can edit budget and forecast versions, including generated quantities
and amounts, either by directly changing quantities and amounts, or by changing attributes that
determine amounts.

Directly edit summary quantities and amounts at the budget or forecast line level, and edit
quantities and amounts associated with period lines. You can also adjust amounts by a specific
percentage at the version, line, or period level. When you adjust amounts at the version level,
you can create another version based on adjusted values.

When you edit a forecast version, you can't change actual values. However, you can change
estimate-to-complete (ETC) quantities and amounts. You can also change estimate-at-completion
(EAC) quantities and amounts at the line level and for periods without actual amounts (that's,
periods whose start date is on or after the ETC start date).

The following is an overview of changes that you can make to budget and forecast versions.

Modify Period Information

Apart from directly editing values for period lines, you can modify the periodic spread of
amounts by changing the spread curve associated with planning resources at the plan line level.
You can also increase or decrease the number of associated periods by editing from and to dates
for budget or forecast lines.

Modify Resource Assignments

You can modify a budget version by modifying resource assignments from the Edit Budget page.
To modify resource assignments for a selected task, select Manage Assignments for Selected
Tasks from the Actions menu.

Refresh and Override Rates

Here are the options for refreshing cost and revenue rates when managing budget or forecast
versions or editing versions.

Available at
Option Version Level Description

Refresh all rows Yes Refresh rates for all plan lines in the selected financial plan version

Refresh selected rows No Refresh rates for selected plan lines.

Refresh all periods Yes Refresh rates for all periods. Rates are refreshed for selected plan l
whether you're refreshing all rows or selected rows.

Refresh for selected period and No Refresh rates for the selected period and subsequent periods. Rates
subsequent periods financial plan version depending on whether you're refreshing all r

Note: Options to refresh period rates apply when the financial plan version supports planning by
accounting or project accounting periods.

When reviewing period details, you can revise rates for all periods within the plan line or for the
selected period and subsequent periods.

You can also manually override effective rates that are used to calculate cost and revenue
amounts (for example, raw cost, burdened cost, and bill rates), and revise currency conversion
attributes for individual budget or forecast lines.

When you override effective rates on budget or forecast lines, the associated period lines inherit
these overridden rates.

Modify Values for Rate-Based and Nonrate-Based Resources

For planning resources that aren't rate-based, for example financial resources, you can only enter
cost or revenue amounts. You can't change quantity and rate.
For rate-based planning resources, you can edit quantity, rates, or amounts. If you edit a value,
associated values are automatically recalculated using predefined precedence rules, as described
in the following table.

Changed Values Precedence Rule

Quantity, rate, or both Calculate amounts based on the quantity and the corresponding rate.

Amounts or a combination of amounts and Calculate rate from quantity when available, and then amounts.
quantity

Rate and amounts Calculate the rate based on updated amounts and existing quantity. Your up

In addition, if you specify rate and amounts, and not quantity, when creatin
are saved.

Caution: Quantity is never modified based on changes to rate or cost and r

Quantity, rate, and amounts Calculate the rate based on updated amounts and existing quantity.

Refresh Currency Conversion Rates

You can retrieve the latest currency conversion rates during financial project planning and when
creating project budgets and forecasts. For example, you may plan a project for four years with
current conversion rates. Later, you can refresh the currency conversion rates based on the latest
values.

Import Financial Project Plans

Import financial project plans from third-party applications into the Project Control work area by
using the Import Financial Project Plans Excel workbook template and running a few scheduled
processes. The Excel template is part of the External Data Integration Services for Oracle Cloud
feature.

For more information about the Import Financial Project Plans Excel workbook template, see the
File-Based Data Import for Oracle Project Portfolio Management guide.

To import the financial project plans:

1. Prepare your data in the ImportFinancialProjectPlans macro-enabled Excel workbook

template.
2. Click Generate CSV File in the template to create a comma-separated values file of
awards.
3. Navigate to the Scheduled Processes page.
 4. Submit the Load Interface File for Import process to load the financial plans data from
your CSV file into the applications related open interface tables.
5. Submit the Import Financial Project Plans process to bring the data into the Project
Control work area from the open interface tables.

Parameters for Load Interface File for Import Process

From Project Name

Beginning project name in a range of projects, from the

PJO_PLAN_VERSIONS_XFACE table, provided for importing financial project plans
versions.

To Project Name

Ending project name in a range of projects, from the PJO_PLAN_VERSIONS_XFACE

table, provided for importing financial project plans versions.

Financial Project Plans Upload Error Report

Review the output reports and repeat the following steps until you import all the required
financial project plans data successfully:

 Correct the errors in the Import Financial Project Plans Rejections report.
 Generate CSV files for the corrected financial project plans.
 Upload the CSV files into the open interface tables.
 Submit the Import Financial Project Plans process.
Related Topics

 External Data Integration Services for Oracle Cloud: Overview

Import Project Budgets

Import project budgets from third-party applications into the Project Control work area by using
the Import Project Budgets Excel workbook template and running a few scheduled processes.
The Excel template is part of the External Data Integration Services for Oracle Cloud feature.

For more information about the Import Project Budgets Excel workbook template, see the File-
Based Data Import for Oracle Project Portfolio Management guide.

To import the project budgets:

1. Prepare your data in the ImportProjectBudgets macro-enabled Excel workbook template.

2. Click Generate CSV File in the template to create a comma-separated values file of
awards.
 3. Navigate to the Scheduled Processes page.
4. Submit the Load Interface File for Import process to load the budgets data from your
CSV file into the applications related open interface tables.
5. Submit the Import Project Budgets process to bring the data into the Project Control work
area from the open interface tables.

Parameters for Load Interface File for Import Process

From Project Name

Beginning project name in a range of projects, from the

PJO_PLAN_VERSIONS_XFACE table, provided for importing project budget versions.

To Project Name

Ending project name in a range of projects, from the PJO_PLAN_VERSIONS_XFACE

table, provided for importing project budget versions.

Project Budgets Upload Error Report

Review the output reports and repeat the following steps until you import all the required
budgets data successfully:

 Correct the errors in the Import Project Budgets Rejections report.

 Generate CSV files for the corrected budgets.
 Upload the CSV files into the open interface tables.
 Submit the Import Project Budgets process.
Related Topics

 External Data Integration Services for Oracle Cloud: Overview

Import Project Forecasts

Import project forecasts from third-party applications into the Project Control work area by using
the Import Project Forecasts Excel workbook template and running a few scheduled processes.
The Excel template is part of the External Data Integration Services for Oracle Cloud feature.

For more information about the Import Project Forecasts Excel workbook template, see the File-
Based Data Import for Oracle Project Portfolio Management guide.

To import the project forecasts:

1. Prepare your data in the ImportProjectForecasts macro-enabled Excel workbook

template.
 2. Click Generate CSV File in the template to create a comma-separated values file of
awards.
3. Navigate to the Scheduled Processes page.
4. Submit the Load Interface File for Import process to load the forecasts data from your
CSV file into the applications related open interface tables.
5. Submit the Import Project Forecasts process to bring the data into the Project Control
work area from the open interface tables.

Parameters for Load Interface File for Import Process

From Project Name

Beginning project name in a range of projects, from the

PJO_PLAN_VERSIONS_XFACE table, provided for importing project forecast
versions.

To Project Name

Ending project name in a range of projects, from the PJO_PLAN_VERSIONS_XFACE

table, provided for importing project forecast versions.

Project Forecasts Upload Error Report

Review the output reports and repeat the following steps until you import all the required
forecasts data successfully:

 Correct the errors in the Import Project Forecasts Rejections report.

 Generate CSV files for the corrected forecasts.
 Upload the CSV files into the open interface tables.
 Submit the Import Project Forecasts process.
Related Topics

 External Data Integration Services for Oracle Cloud: Overview

Considerations for Award Project Budgets

Create budgets for award projects from the Awards Overview page to manage spending for
expenditures associated with funded awards. You must select specific values for these attributes
on a financial plan type and budget version to manage budgets for an award project:

 Calendar type
 Budget creation method
 Planning resources
Calendar Type
Select the Award Calendar calendar type in the budget version details.

Note: If the calendar type on a financial plan type or budget version is Award Calendar, Oracle
Fusion Grants Management is the source for award budget periods.

Budget Creation Method

Select the Manually create budget lines budget creation method. When you create budget lines
manually, you enter amounts at the periodic level for each plan line in the budget. This method
creates periodic detail budgets, and the values accumulate upward from the lowest-level tasks to
the top-level tasks, and to the project level.

Planning Resources
Assign planning resources to the planning level that you selected in the project, which is either
the project level or task level. Enter values for the resources in each period.

Note: The source of planning resources on a control budget is always the primary planning
resource breakdown structure.

How Financial Plan Types and Project Budget

Versions Work With Budgetary Control
Financial plan types and budget versions in Project Control contain attributes that enable you to
automatically create control budgets in Budgetary Control. Configuring these attributes on a
financial plan type enable the budget versions that you create from that financial plan type to
create control budgets.

The following figure shows the components of a financial plan type that you must configure to
enable a project budget version for creating a control budget in Budgetary Control. The general
budget information includes the plan class, planning amounts, and the enable budgetary control
option. The budgetary control settings are the control budget, control level, default rate type, and
tolerance percentage.
General Information and Budget Options
Select the following options on the Edit Financial Plan Type page:

 Plan Class: Budget

 Planning Amounts: Costs

To enable a project template for budgetary control, as a project application administrator, select
the Enable budgetary control from the Edit Basic Information window in the General tab of the
Edit Project Template page. You can't create an award if the project or project template is not
enabled for budgetary control, but the award financial plan type that you select as the default
plan type is enabled for budgetary control. When creating a project budget or an award budget,
the application displays the financial plan types enabled for budgetary controls only if the
budgetary control is enabled in the source project or template.

When using a project template that is enabled for budgetary control, by default, all the projects
that you create using this template are enabled for budgetary control. When budgetary control is
enabled for the project, you can create budgets with budgetary control using the financial plan
type that is enabled for budgetary control. Similarly, you can create budgets using the financial
plan type that is not enabled for budgetary control.

Note: A project can have only one financial plan type that is enabled for budgetary control. If a
financial plan type that is enabled for budgetary control is used by a budget version on a project,
then you can't create another budget version with a different financial plan type enabled for
budgetary control.
Managing Budget by Award and Funding Source for a
Sponsored Project
For sponsored projects that are funded by multiple awards and funding sources, you can maintain
a budget version for each award and project combination. You must enable this plan type as an
approved cost financial plan type and an award financial plan type. For sponsored projects, you
must also enable this financial plan type for budgetary control.

Budgetary Control Settings

The Budgetary Control Settings tab in the Planning Options section of the financial plan type and
budget version contains the instructions for creating control budgets. The following table
describes the attributes and their impact on control budgets.

Attribute
Name Description

Control The level in the project hierarchy where you can enter budgetary control amounts.
Budget
Enter amounts in the budget version at either the project level or the top resource level. The control budget c
the project and top resource information to create the control budget account segments.

For sponsored projects associated to multiple awards or funding sources, you can set one of the following co

 Award-Project
 Award-Project-Top Resource
 Award-Project-Top Resource-Funding Source
 Award-Project-Funding Source

These control budget segments are displayed if you enable a financial plan type as award financial plan type

Control Level The level of funds reservation for expenditures that impact the control budget.

The levels are:

 Absolute: Reserve funds for transactions that impact the control budget only if funds are available in
 Advisory: Reserve funds for transactions that impact the control budget whether or not enough fund
review any exceptions that are generated if a transaction exceeds the funded amount.
 Track: Reserve funds for all transactions that impact the control budget. Don't issue a notification if
budget.
 Do Not Create Control Budget: Don't create a budget in Budgetary Control for this budget version.

An existing award financial plan type displays all the new control segments, including the funding source se
segments that contain the funding source attribute displays as Do Not Create Control Budget. If a baseline
budget, then you can't change the control levels for the segments containing the funding source attribute from
 value.

For a financial plan type, you can't set a higher control level at the lowest combination of segments if a lesse
segments. For example, if Award-Project is Advisory, then Award-Project-Top Resource or Award-Project-
budget is created for the lowest level of the control segment combinations: Award-Project-Top Resource-Fu
for the higher level combination of segments are rolled up from this track level control budget.

Default Rate The rate type that converts the amount of a transaction to the currency used in the control budget before the f
Type

Tolerance The percentage by which a transaction can exceed the budgeted amount before Budgetary Control issues a w
Percentage

Baseline Budgets with Future-Dated Budget Managers

You can set budgetary control enabled project and award budgets that have future-dated budget
managers to baseline. For example, if the project manager for a budgetary control enabled
project budget or the principal investigator for a budgetary control enabled award budget is
active in the future, even then you can set such budgets to baseline. This feature applies to both
existing managers who will play the role in future and managers who will be hired in the future
for the role.

Related Topics

 Why can't I enable budgetary control on a financial plan type

Considerations for Creating Control Budgets

Control budgets are created when the budget for the sponsored or nonsponsored project is set to
baseline.

The creation of a control budget is based on a combination of attributes, such as control segment,
control level, and calendar settings. For sponsored projects, whether an award is enabled for
Expanded Authority or Restricted Authority determines the duration for the control budgets.
Multiple control budgets are created for each scenario or combination of attributes. The
combination also determines the name of each of these control budgets.

Factors that Determine the Creation of Control Budgets

The following rules apply to both sponsored and nonsponsored projects:

 You can't set a higher control level at the lowest combination of control segments when
there is a lower control level at a higher combination of segments. For example, if the
Award-Project control segment is set to the Advisory control level, then you can't set the
 Award-Project-Top Resource and Award-Project-Funding Source control segments as
Absolute.
 For existing sponsored and nonsponsored projects, you can change the control level
settings from a lower to a higher level. For example, for existing projects, you can change
the control level from Advisory to Absolute.
 For existing sponsored projects associated with an award, for which no budget version or
current working version exists, you can update the control budget settings for new control
segments; for example, Award and Funding Source. You can't update control budget
settings for new control segments for existing sponsored projects that are associated with
an award and for which baseline budget versions exist.
 When the control level is changed from a lower to a higher level, the existing control
budgets are also updated to a higher control level.
 You can change the control level from Advisory to Absolute, but you can't change Track
and Do Not Create to a higher value.
 You can set a Track control level at the lowest combination of control segments for
reporting purposes, even if the control level is set as No Control for any of the segments.
 Track doesn't display for most combinations, because you can set Track only at the
lowest combination of the segments. As an exception, for existing control segments, such
Project and Project-Top Resource, or Award-Project and Award-Project-Top Resource,
Track displays at applicable levels. For new financial plan types, although Track is
displayed for these exceptions, the actual Track control budget is created only for the
lowest combination of segments, such as Project-Top Resource and Award-Project-Top
Resource-Funding Source.
 For new financial plan types, if you select Track at the Project or Award-Project level, all
the lower levels change to Track and the records are disabled.
 You can update the budgetary control tolerance percentage and default rate type on
project budgets using the Budgetary Control Settings tab. These modifications will take
effect on the respective control budgets once the budget is set to baseline.

Factors that Determine the Creation of Control Budgets for

Sponsored Projects
Award, Project, Top Resource and Funding Source are control segments for the control budgets
of sponsored projects. You can set one of the following control segments:

 Award-Project
 Award-Project-Top Resource
 Award-Project-Funding Source
 Award-Project-Top Resource-Funding Source

For sponsored projects, the Summary calendar is the range from the pre-award date to award end
date. If the pre-award date isn't available, then the range is from the award start date to award end
date. The periodic calendar is the same as the award budget period.
Consider a scenario in which the control level for all four control segments is Absolute. Four
control budgets are created, one each for the combination of control segments. If the award is
enabled for Expanded Authority, the calendar is set to Summary for all four control budgets. If
the award is enabled for Restricted Authority, the calendar is set to Periodic for all four control
budgets.

Additionally, a fifth control budget is created for the Award-Project-Top Resource-Funding

Source control segment. The control level is set to Track and the calendar is set to Periodic for
this control budget.

Now consider the following scenario in which the award is enabled for Expanded Authority.

 Award-Project: Absolute
 Award-Project-Top Resource: Absolute
 Award-Project-Funding Source: Advisory
 Award-Project-Top Resource-Funding Source: Track

Four control budgets are created in this scenario, one for each of the control segments. The
calendar is set to Summary for the first three control segments, while for the fourth segment,
Award-Project-Top Resource-Funding Source, the calendar is set to Periodic. In the same
scenario, if the award is enabled for Restricted Authority and the calendar is set to Periodic for
all the four control segments, four control budgets are created, one for each of the control
segments.

Depending on the control type and calendar settings, multiple control budgets can be created for
nonsponsored projects. The following table displays a few examples of control budgets that are
created, depending on the control segments, control levels, calendar settings, and whether the
award is enabled for Expanded or Restricted Authority. The name of each of the control budgets
includes these details in its naming format: Project Number_35 characters of Award
Number_Control_Segment_Control_Level. The examples of control budgets are listed in the
following table:

Type of Control Calenda

Spending Control Segment Level r Control Budget Example

Expanded Award-Project Absolute Summary 12345_AwardProjectSample12345Sp

Authority
Award-Project-Top Resource Absolute Summary 12345_AwardProjectSample12345Sp

Award-Project-Funding Source Absolute Summary 12345_AwardProjectSample12345Sp

Award-Project-Top Resource- Absolute Summary 12345_AwardProjectSample12345Sp

Funding Source
Track Periodic 12345_AwardProjectSample12345Sp
Award-Project-Top Resource-
Funding Source
 Restricted Award-Project Absolute Periodic 12345_AwardProjectSample12345Sp
Authority
Award-Project-Top Resource Absolute Periodic 12345_AwardProjectSample12345Sp

Award-Project-Funding Source Absolute Periodic 12345_AwardProjectSample12345Sp

Award-Project-Top Resource- Absolute Periodic 12345_AwardProjectSample12345Sp

Funding Source
Track Periodic 12345_AwardProjectSample12345Sp
Award-Project-Top Resource-
Funding Source

Expanded Award-Project Absolute Summary 12345_AwardProjectSample12345Sp

Authority
Award-Project-Top Resource Absolute Summary 12345_AwardProjectSample12345Sp

Award-Project-Funding Source Advisory Summary 12345_AwardProjectSample12345Sp

Award-Project-Top Resource- Track Periodic 12345_AwardProjectSample12345Sp

Funding Source

Restricted Award-Project Absolute Periodic 12345_AwardProjectSample12345Sp

Authority
Award-Project-Top Resource Absolute Periodic 12345_AwardProjectSample12345Sp

Award-Project-Funding Source Advisory Periodic 12345_AwardProjectSample12345Sp

Award-Project-Top Resource- Track Periodic 12345_AwardProjectSample12345Sp

Funding Source

Factors that Determine the Creation of Control Budgets for

Nonsponsored Projects
The lowest control segment can't have higher control than the higher segment. For example, if
Project is set to Advisory, you can't set Resource to Absolute. If Project is set to Track, you can't
set Resource to Absolute or Advisory. The application doesn't support No Control level for
Project.

For nonsponsored projects, the Summary calendar ranges from the minimum planning element
start date or project start date to maximum planning element finish date or project finish date.
The Periodic calendar is the calendar assigned to the planning options of the budget whether
Accounting or Project Accounting period.

Consider the scenario in which the control level is Absolute for both the Project and Project-Top
Resource control segments. The calendar is set to Summary for both control segments. In this
scenario, the application creates two control budgets. A third control budget is created for the
Project-Top Resource control segment with the calendar type set to Periodic and the control level
changed to Track.

In another scenario, the control level for Project is set to Absolute and the calendar is set to
Summary. The control level for Project-Top Resource is Track and the calendar is Periodic. In
this scenario, two control budgets are created in the application. Similarly, depending on the
control type and calendar settings, multiple control budgets can be created for nonsponsored
projects.

The examples of control budgets created for nonsponsored projects are listed in the following
table:

Control Segment Control Level Calendar Control Bud

Project Absolute Summary P12345

Project-Top Resource Absolute Summary P12345_Top

Project-Top Resource Track Periodic P12345_Top

Project Absolute Summary P12345

Project-Top Resource Track Periodic P12345_Top

Create Control Budgets from Project Budgets

Create a control budget in Oracle Fusion Budgetary Control from a project budget version to
centrally enforce budgetary controls for sponsored and non-sponsored project transactions.
When you create a baseline version of a project budget version with budgetary control attributes,
you automatically create a control budget in Oracle Fusion Budgetary Control.

The following figure shows the procedure for creating a control budget from a project budget
version. Create a budget version in Oracle Fusion Project Control, and review or modify the
budgetary control settings. Enter the budget lines, and when you're satisfied with the budget,
save the version and create a baseline. Creating the baseline prompts Oracle Fusion Budgetary
Control to automatically validate and import the budget version, and create a corresponding
control budget.
Prerequisites
The following conditions must exist for you to create a control budget from a project budget
version:

 Budgetary control is enabled for the Project Accounting Business Function of your
ledger. Manage this option in the Manage Budgetary Control task of the Setup and
Maintenance work area.
 A project or project template and the corresponding financial plan type are enabled for
budgetary control.

Creating a Control Budget

1. In the Projects work area of Project Financial Management, open your project.
2. From the Tasks panel tab, click Manage Project Budget and create a budget version.
The budget version must meet the following criteria:
 o The financial plan type for the budget is enabled for budgetary controls.
o The budget version uses the same primary planning resource breakdown structure
as the project.
o If you're working with an award budget, the calendar type is Award Calendar.
o The fields on the Budgetary Control Settings tab in the Budget Creations Details
section of the Edit Budget Version, Manage Version Details page are completed.

Note: The financial plan type contains the default budgetary control settings for
your budget version. You can change the control level, default rate type, and
tolerance percentage on your budget version.

3. Enter the budget details and budget lines for tasks and resource on a project budget. If
you're creating an award budget, enter the budget details and budget lines for tasks and
resources at the period level.
The application creates separate control budgets for the project and top resources in
Oracle Fusion Budgetary Control. The number of control budgets depends on the control
levels you selected in the Budgetary Control Settings tab of the budget version
4. Save your budget version.
5. Create a baseline. You can create a baseline from the Manage Budget Versions page, Edit
Budget Version page, or the Review and Finalize Budget page.
6. Oracle Fusion Budgetary Control automatically imports the budget version during the
baseline process. The application validates the budget and checks for exceptions. If the
budget version doesn't have any exceptions, the budget import is successful, and a control
budget is created.

FAQs for Project Budgets and Forecasts

Why don't margin amounts appear for some budget or forecast
versions?
When viewing the list of budget or forecast versions for a project, or when editing a version,
margin is calculated and appears only if the focal version contains both cost and revenue
amounts.

However, when reviewing a budget or forecast version that's based on a financial plan type
where cost and revenue are planned separately, you can select another version with the
corresponding amounts to derive margin.

Why can't I see the Retain spread from source option when
generating forecasts?
The Retain spread from source option is not available in the Generate Options tab on the
Forecast Creation Details page when you are:

 Creating forecasts using Copy or Manual creation methods.

 Using different calendar types in source and forecast versions
 Planning the forecast version at a higher level than the source plan version. For example,
if the forecast version planning level is selected as Project and the source planning level
is set as Project and top tasks, then the Retain spread from source won't appear on the
user interface.

What's the difference between standard cost rate and effective

cost rate?
Standard cost rate is derived from the cost rate schedules that are:

 Specified on the planning options if you're using planning rates.

 Derived using actual cost rate derivation logic if you're using actual rates.

Effective cost rate is applied to quantity for calculating budget or forecast raw cost. It equals the
standard cost rate unless you enter a revised effective rate or raw cost amount.

What's the difference between standard burden multiplier and

effective burden multiplier?
Standard burden multiplier is a numeric multiplier derived from a burden schedule. The burden
schedule is either assigned on the planning options or derived using actual cost rate derivation
logic.

Effective burden multiplier is a numeric multiplier applied to raw cost to calculate burden cost
amounts for financial planning. It equals the standard burden multiplier until you recalculate by
entering a revised burdened cost or an effective burdened cost rate.

What's the difference between standard revenue rate and

effective revenue rate?
Standard revenue rate is derived from the revenue rate schedules specified on the planning
options or from the associated contract, depending on the revenue generation method for the
budget or forecast version.

Effective revenue rate is applied to quantity for calculating budget or forecast revenue. It equals
the standard revenue rate unless you enter a revised effective rate or revenue amount.
How are distribution factors calculated for forecast ETC
periods?
When deriving distribution factors and percentages associated with estimate-to-complete (ETC)
amounts for forecast versions, the Oracle Fusion Project Financial Management applications use
only the spread point values corresponding to the ETC period. Therefore, the total distribution
used to calculate distribution percentages for ETC amounts is the total in the ETC period, and
not the total distribution for all periods.

Can I select any financial plan version for comparison when

reviewing a budget or forecast?
Yes. You can select any of the project's financial plan versions to compare with the focal version.

However, if the calendar type associated with a comparison version differs from that of the focal
version, then personalized period information doesn't appear for the comparison version. (If the
focal version doesn't use a calendar, then no period information appears.)

Similarly, if a comparison version uses a different planning resource breakdown structure, then
personalized information for that comparison version doesn't appear in the resource structure
view.

Do reporting options for the focal financial plan version

determine comparison plan values?
Yes. Reporting options for the focal version also apply to comparison plan versions.

For example, if you select raw cost as the reporting cost, then margin analysis is performed using
raw cost for both the focal version and the comparison versions.

Let's take another example where the focal version is created using a financial plan type where
cost and revenue are planned using the same version. Here the focal version contains a single
quantity and that's used for comparison. If a comparison plan is based on a financial plan type
where cost and revenue are planned using separate versions, then the reporting options (report
quantity) for the focal version determines whether quantity from the cost or the revenue version
is used to calculate variance.

Note: At the financial plan type level, report quantity is always cost quantity when planning for
cost and revenue on the same version. However, when reviewing budget or forecast versions,
you can edit reporting options to use quantity from the revenue version of the comparison plan.

What happens when I calculate amounts for a selected budget or

forecast line or period line?
When you calculate amounts for a selected line, revenue and cost are derived based on the
relevant quantity and rates. Amounts in planned currency are converted to the project currency
and project ledger currency. Changes, if any, roll up the hierarchy from resources to lowest tasks
and then to summary tasks, depending on the row that you selected for calculation.

Note: If you select a summary row, calculations are performed for all lines in the hierarchy.

When you calculate amounts for a budget or forecast line, amounts and quantities are distributed
to the period lines based on the associated spread curve. Conversely, amounts and quantities roll
up to the budget or forecast lines if you calculate at the period level.

Populated values aren't saved automatically. You can revise rates or quantity and calculate
amounts for what-if analysis as required.

Can I update planning element values for a budget or forecast

line in Excel?
No. You can't update planning element information, including tasks, resources, and currency in
Excel, for existing budget or forecast lines. If you modify planning element information in
Excel, a new plan line is created in the version when you export it to Oracle Fusion Project
Control.

What happens if I select rows for deletion when editing a

periodic budget or forecast in Excel?
The selected rows are marked for deletion in Excel. Oracle Fusion Projects deletes the marked
rows when you export the budget or forecast version from Excel.

What happens if I enter budget or forecast amounts for a period

outside planned dates in Excel?
Budgets and forecasts don't accept amounts for periods outside of the planned dates. So, you get
an error if you enter an amount outside of the planned date of a budget or forecast.

Why can't I edit the planning resources on a budget version?

After you create a baseline version of a budget that is enabled for budgetary control, you can't
change the name of an existing planning resource in the working budget version. The names of
the planning resources in the baseline budget version are already in the control budget account
segments.

Note: You can add planning resources to the primary planning resource breakdown structure, and
add the new resources to the working budget version.
Why actual quantity isn't calculated?
The actual quantity won't be calculated if the unit of measure for planned resource is different
from the unit of measure of actual project costs.

For instance, if the unit of measurement for a planed resource is Currency and unit of
measurement for project costs is Hours, then the actual quantity isn't calculated.

In scenarios as mentioned above, a warning message appears. To resolve the warning, you can
delete the planned resource and assign a resource with the unit of measure as that of actual
project costs.

Why are some financial plan types not available while

generating budget versions?
Some financial plan types aren't available to generate a project budget version based on the
following:

 If a budget version that belongs to an approved cost or revenue budget already exists for
the project, then the financial plan types that are designated as approved cost or revenue
budgets aren't available for your budget generation.
 If the project is enabled for budgetary control and a budget version that belongs to a
budgetary control enabled financial plan type already exists for the project, then the other
financial plan types that are enabled for budgetary control aren't available for your budget
generation.
 If the project isn't enabled for budgetary control at the project or business unit level, then
the financial plan types for which the Enable budgetary controls option is enabled aren't
available.
 If the project belongs to a project type that isn't enabled for billing, then the financial plan
types that can capture revenue planning amounts aren't available.
 If the project belongs to a project type that isn't enabled for sponsored projects, then the
financial plan types that support sponsored projects aren't available.
 If the financial plan type isn't assigned to the same reference data set that's assigned to the
Project Definition reference data object of the project unit to which the project belongs,
then the financial plan type isn't available.
 If the financial plan type isn't enabled for multiple transaction currencies, then you can't
generate the budget version from a source plan version where the Enable planning in
multiple transaction currencies option is enabled.

Why are some financial plan types not available while

generating forecast versions?
Some financial plan types aren't available to generate a project forecast version based on the
following:
  If a forecast version that belongs to a primary cost or revenue forecast already exists for
the project, then the financial plan types that are designated as primary cost or revenue
forecasts aren't available for your forecast generation.
 If the project belongs to a project type, that isn't enabled for billing, then the financial
plan types that can capture revenue planning amounts aren't available.
 If the financial plan type isn't assigned to the same reference data set that's assigned to the
Project Definition reference data object of the project unit to which the project belongs,
then the financial plan type isn't available.
 If the financial plan type isn't enabled for multiple transaction currencies, then you can't
generate the forecast version from a source plan version where the Enable planning in
multiple transaction currencies option is enabled.

FAQs for Grants Management Integration

How can I enter amounts for an award project budget?
You enter amounts for award project budget versions at the period level, not the resource or task
level. Enter the values for quantities, rates, amounts, and resource assignments in the Period
Details section of each budget line when editing budgets.

Where do the periods on an award project budget come from?

Periods for award project budgets come from the budget periods defined for the specific award in
Oracle Fusion Grants Management. Award project budgets don't use the project accounting
calendar, accounting calendar or accounting periods.

Why can't I view the budget versions for an award?

If you open the Manage Budget Versions page from the Projects work area, the budget versions
for the award don't appear. To view the budget versions for an award, you must open the Manage
Budget Versions page from the Awards work area within the context of the award.

FAQs for Budgetary Control Integration

Why can't I create a budget version with a financial plan type that is
enabled for budgetary control?
One of the following conditions exists:

 Budgetary control isn't enabled for the business unit associated with the project.
 The project or award already has a budget version that is enabled for budgetary control.
The budget versions for a project or award can use only one financial plan type that is
enabled for budgetary control.
 The project currency and the project functional currency are different.
Can I edit a control budget from Project Financial Management?
Yes. Edit the current working version of the project budget, and open the Baseline Budget
Review window. There you can review and compare the control budget amounts for the current
working budget, current baseline budget, and the proposed increase or decrease. The existing
control budgets will be automatically updated when you create a new baseline budget version.

You must edit and create baseline budgets within Oracle Fusion Project Control for the control
budget and project budget amounts to be synchronized.

Caution: Although you can edit a control budget within Oracle Fusion Budgetary Control, the
control budget and project budget amounts won't be synchronized.

Why can't I edit the budgetary control settings for a budget version?
One or both of the following conditions exists:

 You don't have the necessary security privilege. Only the project manager and principal
investigator can edit the budgetary control settings on a project.
 A baseline version of the budget exists. After you create a baseline version of a budget,
you can't edit the budgetary control settings.

Why can't I change the calendar type in a budget version?

A control budget exists for the budget version. If the budget version is enabled for budgetary
controls, you can't edit the calendar type after you create a control budget.

Note: When you create the baseline version, you automatically create a control budget.

Why do I have to edit the budgetary control account segments for a

budget version?
When you create a budget version that is enabled for budgetary control, you automatically create
the control budget account segments. The application concatenates the project and top resource
names to create the segments. If a segment exceeds 50 characters, the application automatically
shortens the segment. The shortened segment may have the same text as an existing segment.

Tip: The most frequent causes of duplicate control budget account segments are lengthy project
and top resource names.

Why can't I select some financial plan types when generating a budget
version while setting a baseline for the financial project plan?
As a project manager, when you generate a budget when setting a baseline financial project
plan, you can select any active budget financial plan type that's available for budget creation.
However, some financial plan types (including the default financial plan type selected in the
budget generation options of the project plan type) are unavailable for selection in the following
circumstances:

 If you already selected an approved cost or revenue budget financial plan type for
creating a budget version, then no other approved budget financial plan types are
available.
 If you want to select a financial plan type with budgetary control enabled on it, then it's
unavailable for selection in the following circumstances:
o The project or template isn't enabled for budgetary control.
o The business unit isn't enabled for budgetary control.
o The project is a sponsored project, then only an award budget is expected to be
enabled for budgetary controls.
o A different budgetary control enabled financial plan type is already used.

Why does a budgetary control enabled budget version remain in

submitted status?
The Integrate Project Budgets to Budgetary Control process does not complete successfully
causing the budget version to remain in Submitted status. This is because budgetary control is
enabled only on the ledger and not on the project. To resolve this, you must enable budgetary
control for the project and then revise and resubmit the baseline budget.

How can I enable budgetary control for my project?

As a project manager or project administrator with access to project settings, you can enable
budgetary control for a project using the Edit Basic Information window in the General tab of
the Manage Financial Project Settings page.

Note: You can enable budgetary control only if no transactions exist in the project.