FAQ: Budgets in PPM
This article answers Frequently Asked Questions and provides an overview on the availability of budgeting in PPM focusing on General Projects.
Q: Do all projects have budgets?
- Sponsored Projects must have a budget.
- General Project budgets are optional.
Q: Where can you find more information on Sponsored Project budgets?
A: Refer to KB0032202: How to Manage Sponsored Project Budgets in OFC PPM.
Q: Should you create a budget in your General Project?
A: This is at the Department's discretion to create a budget, but it can help the Project Manager monitor the financial performance of the project.
Q: Who is responsible for General Project budgets?
A: It is the Department's responsibility to review and manage PPM Budget for General Projects, if the functionality is used.
Q: Is there a formal process for budgets for General Projects?
- The budget will be auto approved by the system.
- Central offices will not be reviewing or monitoring the budget for appropriateness.
Q: Is there a way to turn off project notification when new versions of budgets are submitted?
- In OFC PPM, Principal Investigators (PI) are the designated Project Managers on Sponsored Projects. This was designed in order to be able to report on projects by PI.
- As Project Managers, the PIs will receive email notifications related to Financial Plans on their Projects. The financial plans are budgets being created or modified on the Sponsored Projects. No action is required from the PIs.
- PIs may create email rules so that these notifications are sent to a designated email folder.