Project Management

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Topic

    Purvesh Bhavsar
    How to handle multi-year projects when creating a budget for...
    Topic posted June 10, 2019 by Purvesh Bhavsar, tagged Project Costing, Project Management, Project Planning & Scheduling, Project Planning, Budgeting, & Forecasting 
    62 Views, 1 Comment
    Title:
    How to handle multi-year projects when creating a budget for a particular year?
    Content:

    When creating a budget for a particular project which crosses multiple years - how can we spread the budget across multiple years? For example; $50k from 6/1/19 - 5/31/20 and $50k 6/1/20 - 5/31/21

    Comment

     

    • Nadine Stephens

      We are using awards to manage project budget and apply amounts per fiscal year as follows:

      1. Create award via Manage Awards by entering data in required fields for each tab and screen.

      2. On the Financial Tab, you should have the option to add Budget Periods (see below)

         

      3. Associate project to the award.

      4. Add Funding for each budget period.

      1. Submit Contract for Approval.