What is 'funds required' in SAP PA-PM - Budget Management?

funds required - Overview

• Component: PA-PM

• Component Name: Budget Management

• Description: The funds that are required for financing a person or position.

funds required - Details

• 
  Key Concepts: 
  Funds Required is a term used in the SAP PA-PM Budget Management component. It is used to refer to the total amount of funds that are needed to complete a project or activity. This amount is calculated by taking into account the estimated costs of materials, labor, and other expenses associated with the project or activity. 
  
  How to use it: 
  The Funds Required field can be found in the budget management module of SAP PA-PM. It is used to enter the total amount of funds that are needed for a project or activity. This amount is then used to calculate the budget for the project or activity. 
  
  Tips & Tricks: 
  When entering the Funds Required field, it is important to make sure that all estimated costs associated with the project or activity are taken into account. This will ensure that the budget for the project or activity is accurate and sufficient. 
  
  Related Information: 
  The Funds Required field is closely related to other fields in SAP PA-PM such as Budgeted Cost, Actual Cost, and Variance. These fields are used to track and compare the estimated costs of a project or activity with its actual costs.