Financial summaries

All lifecycle entities, programs, and org units, when created, have financial summaries to store their financial information. A financial summary must have a parent entity, a lifecycle entity, a program, or an org unit. It cannot exist independently.

Note: Throughout the help, the term "lifecycle entity" is used to mean a proposal, a project, or an asset, and "lifecycle entities" are any combination of proposals, projects, and assets.

Opening a financial summary

Follow the instructions below to open the financial summary of an entity.

Action Details
Open the financial summary of a proposal or an asset
  1. Open the proposal or asset details page.
  2. Click the link in the Financial Summary field.
Open the financial summary of a project
  1. Search for the project.

  2. In the search result page, locate the project and click the link in the Financial Summary column.

    Or, you can open the project overview page, and do one of the following:

    • In the Summary tab, and in the Project Cost section, click View Financial Summary.

    • In the Details tab, click the link in the Financial Summary field.
Open the financial summary of a program
  1. Open the program overview page.

  2. In the Details or the Cost tab, click the link in the Financial Summary field.
Open the financial summary of an org unit
  1. Search for an org unit.
  2. Click the link in the Financial Summary field.

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Financial summary for lifecycle entity transitions

When a proposal becomes a project and when a project becomes an asset, the same financial summary (not a copy) is carried forward across these three "lifecycle entities" for ease of tracking and comparison.

When you copy a proposal by using its Make a Copy button, a financial summary is created for the new proposal, but no data from the original financial summary is copied. The original proposal and the copied proposal are independently editable. You can modify the data in one or more proposals, including their financial summaries, and evaluate those proposals as alternatives to each other.

When the same financial summary is used by multiple lifecycle entities, for example when a project uses the same financial summary as the proposal it succeeded, none of those lifecycle entities can be deleted.

Note: Based on your business needs, a workflow can be configured to create multiple projects from a single proposal at different workflow steps. In this case, the financial summary of each project created after the first one has no data. (You can create custom financial data tables for the various projects. For details, see Financial Data Tables in Requests.

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Go through financial summary features

The following table lists the UI elements of a financial summary and tells you what you can do with a financial summary.

UI Element Description
Statistics section
Name

Name of the financial summary.

By default, a financial summary inherits its name from its parent entity. You can change a financial summary name when necessary.
Status

Status of the financial summary's parent lifecycle entity. If the parent is closed or cancelled, the entire financial summary is read-only.

Not shown in financial summaries for programs or org units.
Created On Date on which the financial summary was created.
Created By Person who created the financial summary.
Expected Start

Expected start date of a proposal or project.

Not shown in financial summaries for programs or org units.

It is included in a financial summary exported to Microsoft Excel, but not in a financial summary snapshot.
Expected Finish

Expected finish date of a proposal or project.

Not shown in financial summaries for programs or org units.

It is included in a financial summary exported to Microsoft Excel, but not in a financial summary snapshot.
Description Description of the financial summary.
Summary section
Discount Rate

Used to discount Total Nominal Return to is current value, to calculate Net Present Value (NPV) for future months.

Not available in financial summaries for org units.

  • For lifecycle entities, discount rate listens to the Discount Rate field in the entity's request details page.

  • For programs, discount rate is set in the program financial summary settings.
Display Currency in

Toggle to display amounts in one of the following currencies:

  • Local currency: currency of the parent entity (the default option)

    For a program's financial summary, it is the currency of the program's contents (proposals, projects, and assets)

  • Base currency: the system default currency which is decided during PPM installation

The Display Currency in field is available only if the two currencies are different.

For program's financial summaries, this field is available only if all the contents use the same currency.

Total Forecast Cost

Total Actual Cost

Remaining Forecast Cost

Total Forecast Benefit

Total Actual Benefit

Projected Cost

NPV

Total Nominal Return

Total Approved Budget

Financial totals over the entity's entire period.

Not available in financial summaries for org units.

For details, see Viewing Financial Totals from Financial Summary
View Approved Budget Details

Click to open the Budget Details page to view and update budget.

For details, see View and update budget.

Snapshots: Create Snapshot

Click to create a snapshot for the financial summary.

For details, see Taking and Using Financial Summary Snapshots.

Snapshots: View Snapshots

Click to display a list of snapshots of the financial summary.

For details, see Taking and Using Financial Summary Snapshots.

Totals by Year section

This section displays a graph to show cost, benefit, and budget for the fiscal year you select.

Not available in financial summaries for org units.

For details, see View totals by year.

Cost Details section

Not available in financial summaries for org units.
Cost details table

Displays forecast or/and actual cost details by periods.

For details, see Viewing Cost Details from Financial Summary.
Edit Costs

Click to edit forecast and actual costs.

For details, see Add and edit costs.
Add Notes

Click to add cost notes.

For details, see Viewing and Adding Notes

Benefit Details section

Not available in financial summaries for org units.
Benefit details table

Displays forecast or/and actual benefit details by periods.

For details, see View, add, and edit benefits.
Edit Benefits

Click to edit forecast and actual benefits.

For details, see View, add, and edit benefits.
Add Notes

Click to add benefit notes.

For details, see Viewing and Adding Notes

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