What is allocated budget in SAP CEC-MKT-PLN - Planning for Marketing?

SAP Term: allocated budget

• Component: CEC-MKT-PLN

• Component Name: Planning for Marketing

• Description: An amount that provides guidance to marketing managers about how much to plan for marketing activities.

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• Key Concepts: 
  Allocated budget is a term used in SAP CEC-MKT-PLN Planning for Marketing. It is the amount of money that has been set aside for a specific purpose or project. This budget is allocated from the total budget available to the organization and is used to fund the project or activity. 
  
  How to use it: 
  In SAP CEC-MKT-PLN Planning for Marketing, allocated budget is used to track and manage the funds that have been set aside for a specific purpose or project. The allocated budget can be used to monitor the progress of the project and ensure that it is completed within the allocated budget. 
  
  Tips & Tricks: 
  When setting an allocated budget, it is important to ensure that it is realistic and achievable. It should also be monitored regularly to ensure that it is not exceeded. Additionally, it is important to ensure that all costs associated with the project are accounted for in the allocated budget. 
  
  Related Information: 
  Allocated budget is closely related to other terms such as actual cost, estimated cost, and planned cost. Actual cost refers to the actual amount of money spent on a project or activity, while estimated cost refers to the amount of money that was estimated to be spent on a project or activity. Planned cost refers to the amount of money that was planned to be spent on a project or activity.