Set the Project Budget Base

  1. Select Project Data > Projects. The Manage Projects tab window displays.
  2. Click on the Structure [Select] dropdown in the Ribbon Menu and select the project you want from the list.
  3. Select the Change Control tab.
  4. Enter the project's Negotiated Cost value. The Contract Budget Base value automatically updates to match your entry.
  5. Enter the project's Authorized Unpriced Work value if applicable. If you enter an Authorized Unpriced Work (AUW) value, the Contract Budget Base value increases by the same amount.
  6. Enter the project's Management Reserve value. Subtracting Management Reserve from the Contract Budget Base updates the value for Undistributed Budget (Undistributed Budget = Contract Budget Base minus Management Reserve).
  7. Set the Default Debit Account to either Undistributed Budget or Management Reserve. The default setting is Undistributed Budget. This setting comes into play when changes are processed for the budget values. In instances where the budget has yet to be fully distributed to control accounts, leave this set to Undistributed Budget. In instances where management reserve is distributed to one or more control accounts for a realized risk, set this to Management Reserve.
  8. Optional. Depending on the contract type, enter the project's Fee % (percent) or Amt (Amount) value. The Target Price increases by the same amount (Target Price = Contract Budget Base plus fee or profit).
  9. Optional. Enter the project's Contract Ceiling value for contracts with a ceiling clause. Otherwise, leave the value as zero.
  10. Enter the project's Original Negotiated Cost value. This is the value negotiated for the new project excluding any fee or profit. For a cost plus fixed fee, incentive, or award fee contract, enter the estimated cost negotiated. For an incentive contract, enter the definitized contract target cost.
  11. Click Save in the Ribbon Menu.
  12. Optional. Enable the Change Control Log.
  13. Optional. Close the Manage Projects tab.