Hi,
we are trying to set a basic budget control for projects. The primary objective we want to achieve is, in relationship to a project, to stop a purchase requisition or a purchase order when their cost exceeds a predefined budget.
I’m looking into how to create budget in Forecasting Module: selecting the project > creating forecast > choosing Cost Estimated on activity level and keeping the EAC Recalculated. After confirming and approving, I set the forecast as active budget. Then I enable budget control for the single project.
Setting rules (in Project Budget Control Rules List window) I decide on which cost element the budget should apply.
I would like to know, at this point is the budget already working? On which cost is the budget having control (Committed Cost/Used Cost/Actual Cost/..?) ? Is there a visual alert if a user attempts to exceed the budget?
I don’t have the possibility to make proper tests right know, so that’s why I’m asking.
Thank you,
Paola
