Overview
Planned, approved and actual project costs are included in reporting to the IT Governance committees and should be tracked in Team Dynamix to facilitate this reporting.
Planned and Approved Project Budget
Planned and approved project budget are normally identified as part of the request stage and already identified in TDX when the request is converted to a project. When a request is converted to a project this can be viewed in the project details tab of the project in the following two areas
Navigate to Projects/Workspaces > Expand the left side menu for the desired project > Select Project Details and scroll down
The approved budget (called Expenses) from the project request is identified under the Initial column. Subsequent changes to the approved project budget would be identified in the Current Column.
The funding sources view provides a detailed breakdown of the approved project budget and associated actual costs as they are applied.
TDX does not connect the totals from the funding sources view to the Expenses field in the hours/budget view so any changes to the approved project budget need to be made in the following two areas
1) The overall approved budget number in the General section of the project
a. For how to change the overall approved project budget see updating the overall project budget below
2) The detailed breakdown of approved project budget in the Project Costs section of the project
a. For how to update the funding sources budget please see the Updating the Detailed project budget section below
Updating the Overall Project Budget
The Expenses Budget field is the total amount of money you plan to spend on the project and should include the total all costs (Hardware/Software/Consulting/training etc.). If the planned budget changes throughout the project this field should be updated to reflect the new approved budget.
1. To update the project budget, Navigate to Projects/Workspaces > Expand the left side menu for the desired project > General/Time & Expenses
2. Update the Expenses budget field.
3. Hit SAVE
Updating the Detailed Project Budget
The funding sources view pulls data from the Project Costs section of the project. This section is a breakdown of all planned project costs and then actuals project costs and the Budget section of each costs type needs to be revised to match the Expenses budget section identified in the
1. To update the budget breakdown, navigate to Projects/Workspaces > Expand the left side menu for the desired project > Project Costs
2. Project costs are broken down into the following 5 types
a. Consulting
b. Hardware
c. Software
d. Training
e. Other
There is also a cost type defined as ROM (Initial ROM). This is only used if the breakdown is not known - this should be set to 0 once the actual breakdown of project costs has been determined.