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Budgeting w/o Planning

Hi Experts,

Can we do Budgeting with out cost planning?How could it possible?

Regards,

Sanju

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  • Best Answer
    Posted on Jun 14, 2008 at 06:57 AM

    Hi,

    Budgeting is Actually the Approved cost structure of the Project.

    It is basically like the assigned funds for the project to carry out the project activities like procurement.

    So If we know how much cost will be incurred on any WB element of the project Yes we can do budgeting.

    Planned cost gives a baseline for the Cost with which we know what would be the cost implication on the project.

    TCode: CJ30.

    After budgeting the assigned value (It includes the commitments, actual costs) are compared with the Budget (Available).

    Hope its useful.

    Thanks..

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