What is funded program in SAP PSM-FM - Funds Management?

SAP Term: funded program

• Component: PSM-FM

• Component Name: Funds Management

• Description: A program within with an operational purpose and a defined time frame. Funded programs can vary from simple activities to complex projects, and can cross an organization's fiscal years, funding sources, and organizational units. Funded programs enable you to record budget, control postings, and monitor the performance of internal projects.

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• Key Concepts: 
  Funded Program is a type of Funds Management in SAP that allows for the tracking of funds allocated to a specific program or project. It is used to monitor the budget and expenditures associated with the program or project, and to ensure that the funds are used in accordance with the program's objectives.
  
  How to use it: 
  Funded Program is used to track the budget and expenditures associated with a specific program or project. It allows users to set up a budget for the program, allocate funds to different activities, and track the actual expenditures against the budget. It also allows users to monitor the progress of the program and make adjustments as needed.
  
  Tips & Tricks: 
  When setting up a funded program, it is important to ensure that all of the necessary information is included in the setup. This includes the budget, activities, and any other relevant information. Additionally, it is important to regularly review and update the funded program to ensure that it is up-to-date and accurate.
  
  Related Information: 
  Funded Program is part of SAP's Funds Management module. Other components of Funds Management include Budgeting, Cost Planning, and Investment Management. Additionally, there are several other modules in SAP that can be used in conjunction with Funds Management, such as Controlling and Financial Accounting.