A budget draft is a holding area for budget data that is currently in process. You enter or revise the budget amounts for a project in a draft. The status for a draft is Working.

You have a draft for each budget type used on the project. You cannot report against a draft or use it to compare budgeted to actual amounts.

1. Budgets Window

   Navigate to the Budgets window. Choose the project for which you want to enter or revise budget amounts. You must enter a valid project number before you can enter a budget type.

2. Budget Type

   After you have selected a valid project, the budget type field will be enabled.

   Choose the budget type. The budget type field enables you to have more than one series of budgets for a project. The budget type determines whether the budget is a revenue budget or cost budget. See: Budget Types, Oracle Projects Implementation Guide.

   Note: The list of values displays only active budget types. However, if a budget was created earlier for your project using a budget type that is now inactive, the inactive budget type can be entered.

3. Find Draft

   Choose the Find Draft button.

   Note: If you select an inactive budget type and choose Find Draft, no draft budget will be displayed.

4. Version Name

   Enter the version name.

5. Budget Status

   The budget status will be displayed, indicating where the budget is in the submission or baseline process. The budget status can have the following values:

   • Working A draft that you are entering and updating.

   • Submitted A draft that is submitted for baseline. If you want to change make changes in a budget that has a Submitted status, you must first select the Rework button, which returns the status to Working.

   • Baselined A baseline budget version. The Budget Version History window in the Budgets form displays baseline budget versions.

6. Change Reason

   Enter a change reason. The change reason identifies the reason for changing a budget version from a previous version. See: Budget Change Reasons, Oracle Projects Implementation Guide.

7. Description

   You may enter a description for the budget version.

8. Budget Entry Method

   You can accept or override the default budget entry method (BEM), which determines the level of detail for the budget.

   • If you are entering the first draft for the budget type, the default BEM is determined by the project type of the project.

   • If a prior version of the budget type exists, the default BEM is the budget entry method of the project's current budget for the budget type.

   You can choose a categorized or uncategorized budget entry method. See: Categorizing Budget and Forecast Amounts by Resources.

   You can change the BEM at any time, even after you have created a baseline version for the budget type. When you change the BEM, the system will delete the existing draft budget lines. You can then enter a new draft.

   Note: If you select a categorized BEM for the first draft budget of any type, all subsequent draft budgets of that type (after the first draft budget baseline is created) must also use categorized BEMs. The same is true for uncategorized BEMs. The list of values of BEMs will show only valid BEMs for a budget.

   See: Budget Entry Methods, Oracle Projects Implementation Guide.

9. Resource List

   The resource list is the set of resources that can be used as budget categories for a categorized (detail) budget. These resources will be displayed on the list of values for resource when you are entering budget lines.

   If you are entering the first draft for the budget type, you may accept or override the default resource list. If you change the resource list after you have entered budget lines for the budget version, the system will delete the draft lines and you must enter a new draft. You cannot change the resource list after you create a baseline budget version for the budget type.

10. Original

    This field displays the version name of the current original budget for the project budget type. You can view the original and other historical budgets in the Budget Version History window (choose History from the Budgets window).

11. Was Original

    This flag indicates if the budget currently displayed was previously an original budget. Oracle Projects creates such budget versions when you revise the original budget. You can view this value in the Budget Version History window.

12. New Original

    Use this check box if you want to indicate that this draft, when a baseline is created, will become the revised original budget.

13. History

    You can choose History to review the details of previous budget versions of the selected budget type. Historic budgets can be viewed for active and inactive budget types.

14. Labor Hours, Raw Cost, Burdened Cost, Revenue

    These fields display the sum of the labor hours, raw cost, burdened cost, and/or revenue entered for the budget version.