What is financial plan in SAP CA-CPD - Commercial Project Management?

SAP Term: financial plan

• Component: CA-CPD

• Component Name: Commercial Project Management

• Description: An object that allows you to plan costs, revenues, quantities, margins, and expenses across the overall project lifecycle. You can also plan oncustom-defined attributes of your project, for example, planning on overhead costs.

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• Key Concepts: 
  Financial plan is a component of the Commercial Project Management (CA-CPD) module in SAP. It is used to create and manage financial plans for projects, such as budgeting, forecasting, and cost analysis. The financial plan is used to track the financial performance of a project and to ensure that it meets its objectives. 
  
  How to use it: 
  The financial plan can be used to create a budget for a project, which can then be used to track the actual costs incurred during the project. It can also be used to forecast future costs and revenues associated with the project. Additionally, it can be used to analyze the cost structure of the project and identify areas where cost savings can be made. 
  
  Tips & Tricks: 
  When creating a financial plan, it is important to consider all potential costs associated with the project, including labor costs, materials costs, overhead costs, and any other costs that may arise during the course of the project. Additionally, it is important to consider any potential risks associated with the project and how they may affect the financial plan. 
  
  Related Information: 
  The financial plan is closely related to other components of the Commercial Project Management module in SAP, such as cost planning and resource planning. Additionally, it is important to consider other aspects of project management when creating a financial plan, such as scheduling and risk management.