What is overall budget in SAP PA-PM - Budget Management?

SAP Term: overall budget

• Component: PA-PM

• Component Name: Budget Management

• Description: A structured representation of the revenue and expenditure proposed for a financial year in an organization. HR Funds and Position Management focuses on expenditure for persons and positions.

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• Key Concepts: 
  Overall budget is a term used in SAP's PA-PM Budget Management component. It is the total amount of money allocated for a particular project or activity. This budget is typically set by the organization and is used to track and manage the costs associated with the project or activity. 
  
  How to use it: 
  Overall budget can be set up in SAP's PA-PM Budget Management component. The budget can be broken down into different categories, such as labor, materials, and overhead costs. Once the budget is set up, it can be monitored and adjusted as needed. 
  
  Tips & Tricks: 
  When setting up an overall budget, it is important to consider all potential costs associated with the project or activity. This includes both direct and indirect costs, such as labor, materials, overhead, and other expenses. It is also important to consider any potential changes in the cost of materials or labor over time. 
  
  Related Information: 
  For more information on SAP's PA-PM Budget Management component, please visit the SAP website at https://www.sap.com/products/pa-pm-budget-management.html.