What is 'budget status' in SAP PPM-PFM - Portfolio Management?

budget status - Overview

• Component: PPM-PFM

• Component Name: Portfolio Management

• Description: An indicator of the current budget performance for a project. The budget status is based on customer-defined upper and lower tolerances. &EXAMPLE& Red = over budget >25% Yellow = over budget 10-24% Green = over budget <10%

budget status - Details

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  Key Concepts: 
  Budget status is a feature of SAP Portfolio and Project Management (PPM-PFM) that allows users to track the progress of their budget. It provides an overview of the budget, including the total amount allocated, the amount spent, and the amount remaining. It also allows users to compare their actual spending against their budgeted amounts.
  
  How to use it: 
  To use budget status, users must first create a budget in SAP PPM-PFM. Once the budget is created, users can view the budget status by selecting the “Budget Status” option from the main menu. This will display a summary of the budget, including the total amount allocated, the amount spent, and the amount remaining. Users can also view detailed information about each budget item by selecting it from the list.
  
  Tips & Tricks: 
  When creating a budget in SAP PPM-PFM, it is important to set realistic goals and allocate resources accordingly. This will help ensure that users are able to track their progress accurately and make adjustments as needed. Additionally, users should regularly review their budget status to ensure that they are staying on track with their spending.
  
  Related Information: 
  For more information about SAP PPM-PFM and its features, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tutorials and tips for using SAP PPM-PFM.