Estimate Budget

When you are planning and preparing the work on a work order, it is possible to connect budget information to each work order. The budget information is divided into the following cost types: Personnel, Tool/Equipment, Material, External, Expenses, and Fixed Price. The Fixed Price is only used in IFS Cloud for Service Management. For each cost type you can enter and view the following costs/revenues/margin:

• Budgeted: The user can manually enter estimated values for costs/revenues for the work order. The margin is automatically displayed.
• Planned: The costs/revenues/margin is automatically displayed for what has been planned for the work tasks connected to the work order during preparation. 
• Actual: The costs/revenues/margin is automatically displayed for the expended resources that have been reported in for the work tasks connected to the work order.

You estimate the budget in IFS/Maintenance, and in IFS Applications for Service Management.

IFS Business Reporter can be used to create and analyze information based on the work order budget process data available in IFS Cloud. For more information refer About Information Sources in IFS Business Reporter.