The Budget Insights section provides a consolidated view of all budgets at various hierarchy levels — program, project, milestone, WBS, or task.
It helps decision-makers analyze financial performance, track spending, and identify deviations from planned budgets.
Navigation Path
Log in to the application → Go to Left Menu → Finance Module → Budget Insights
Displayed Information
Each record displays:
- Budget Name
- Budget Type (Program, Project, Milestone, WBS, Activity, Task)
- Estimated Cost
- Actual Cost
- Status (New, Active, In Progress, Completed, On Hold)
- End Date
Budget Insight KPIs
- Budget Variance – Measures the difference between planned and actual spending. A positive variance indicates cost savings, while a negative variance suggests overspending.
- Cost Performance Index (CPI) – Evaluates cost efficiency (CPI > 1 = under budget; CPI < 1 = over budget).
- Budget Utilization – Represents the percentage of the budget consumed.
- Approval Rate – Displays the ratio of approved budgets to total created budgets.
- Pending Approvals – Shows budgets awaiting managerial approval.
Percentage of Budget Spent – Tracks how much of the allocated budget has been used within a given period.