Requires the following solution to be installed:
- Project Portfolio Budgeting (7a492987-0f5b-4ae4-9c62-9278ea1802c1)
There is a conflicting solution, which should not be installed together with this one:
- Manual Cost Entry (fa9588ff-c837-419e-954b-e1e487787689)
The solution enables Cost and Expense entities for Portfolio Epics and Agile Release Trains. Two new tabs will appear at the end of the list of the tabs on a Portfolio Epic and Agile Release Train views. Costs (usually Labor costs) and Expenses (usually Non-Labor expenses) can be entered manually or imported from other systems. They represent actual costs and expenses related to a Portfolio Epic or Agile Release Train.
When you add a Cost into the system, you'll define:
- Portfolio – it doesn't matter much which Portfolio you select. All the Costs will be moved to the Budgeting Portfolio by an automation rule to make it visible to only needed groups of people.
- Is Capitalized – set to True if it's a capitalizable cost
- Date – a date when the Cost happened
- Actuals – the value of the Cost
- Portfolio Epic – which Portfolio Epic this Cost is related to (usually set by default, if created right from a Portfolio Epic view)
When you add an Expense into the system, you'll define:
- Name - an expense name
- Portfolio – it doesn't matter much which Portfolio you select, as all the Expenses will be moved to the Budgeting Portfolio by an automation rule to make it visible to only needed groups of people.
- Date – a date when the Expense happened
- Actuals – the value of the Expense
- Expense Type – the type of an Expense: Communication/Network, Hardware/Software, Consulting, Travel and Entertainment or Other Expense. Expense Type is a custom field, so you can update its values to match your type of Expenses. Go to Settings -> Custom Fields to do so.
- Portfolio Epic – which Portfolio Epic this cost is related to (usually set by default, if created right from a Portfolio Epic view)
When Costs and Expenses are added to the system, they will automatically be connected to the respective Monthly, Quarterly and Annual Budgets of a Portfolio Epic so that we can see Monthly, Quarterly and Annual cost and expense totals.
To move Costs and Expenses to the Budgeting Portfolio, we need to update automation rules with the correct Budgeting Portfolio ID
- Copy Budgeting Portfolio ID.
- Go to Settings -> Automation Rules and Update the following automation rules with the correct Budgeting Portfolio ID, as it's shown on the gif below:
- Move Costs to Budgeting portfolio
- Move Expenses to Budgeting portfolio
It is possible to move Costs and Expenses tabs to the Budgeting tab. You need to adjust the view layout to do so. However, it's not required for the solution to work.
The solution can be enabled from Solution Library. Please contact our Support Team to enable it on your account, if it's not available yet.