360°Strategic Asset Management > Setup > Event Definition > Event Object > Event Budget

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Risk Management > Setup > Event Definition > Event Object >Setup > Event Budget

The event budget reflects the resource requirements to be used to execute the event and is influenced by the serviceability requirements of the object. If the owner has insufficient capacity to support the equipment, certain selected support elements can be routed to other organisations or work can be performed by contractors and sub-contractors. To execute an event, resource availability needs to be verified against the requirements.

Note

The following resource budgets need to be managed:

Resource Budget: The resource budget deals with the type of person required to perform the event. The budgeted requirement for the event versus actual available trades can be compared to determine if trade shortages exists. From this management can decide to:

  • Continue and execute the event.
  • Postpone the event for a later date.
  • Make use of contractors to supplement own trades and perform the event.

Workshop/Facility Budget: A typical facility required to perform an event is a workshop with service bays. The booking of a service bay needs to be controlled to ensure its availability for an event. The budgeted requirement for the event versus actual available facilities can be compared to determine if a shortage exists.

Support Equipment Budget: Support and test equipment is booked to perform an event. The budgeted requirement for the event versus actual available support and test equipment can be compared to determine if shortages exists.

Item/Moveable Item Budget: Material can be defined as all spare parts, consumables and related inventories reserved to perform an event. Material reservation against an event will remove the stock from the open balance to reflect the allocation. This provides full visibility to the material planner in order to have control over the stated requirements versus available stock.

Services Budget: You can book an already accredited contractor against an event.

Tasks that use this form

Create/delete new event budget

Navigating the form

The following tables provide descriptions for the controls in this form:

Buttons

Control name

Description

New

Create a new event budget record.

Delete

Delete an event budget record.

Fast Tabs

Tab

Description

Setup

This tab displays detail on event budget billing and disclose information.

Values

This tab displays detail on event budget duration and quantity information.

Stock dimensions

This tab displays detail on stock dimensions for the resource line as it was created in the inventory table. This data is not editable for a resource item, except for the storage dimensions.

Fields

FastTab

Field name

Field description

Resource type

Use the lookup to select the required type of resource. Values available for selection are:- Item, Service, Support Equipment, Trade, etc.

Resource code

A code uniquely identifying the resource type. Select from the available list of resources.

Description

The short detailed description of the resource line on the budget.

Setup - Billing

Billing indicator

If this field is ticked the selected resource will be billable.

Bill recurrence

This field defines the recurrence of the billing process for the selected object. The billing recurrence options are “once-off” or “cycle”.

In advance

If this field is selected the payment will be required up front, else the payment may be made in arrears.

Pricing model

Select a value from the drop down list to indicate the pricing model for the contract. The following options are available: “Variable” – “the pricing can be changed according to agreement” or “Fixed” – “the pricing model is fixed for the full duration of the contract period.” Option variable means that the cost of the resource can be changed, and fixed means that the cost for the resource is fixed and cannot be changed.

- Payment Schedule (Only available type = Contract)

Journal cycle

This defines the frequency of the billing cycle to be sent to the customer.

Periods per annum

This defines the periods per annum base on the journal cycle that is select. For example: Monthly cycle = 12 per annum, or Quarterly = 4 per annum.

Payment schedule calculation

This defines the payments schedule calculation method that will be used for the calculating the installments per period. Compound method is currently the only method that is used for leasing contracts.

Residual percentage

This defines that residual value is one of the constituents of a leasing calculus or operation. A Residual Value or "Balloon Payment" is a lump sum owed to the financier at the end of a loan term after all regular monthly repayments have been made. This allows a borrower to repay only part of the principal of their loan over its term, reducing their monthly repayments in exchange for owing the financier a lump sum at the end of the loan term.

Days per annum

This defines the number of days per annum used for the calculation of interest rate adjustments on the payment schedule transactions.

- Stock

Process stock

This defines the processing of stock when stock is managed internally and the resource type = Fuel. The indicator will only be selected if internal processing of fuel stock is used.

- Disclose

Delete allowed indicator

This field defines if the resource may be deleted from the work order or the contract. Tick for the resource line to be deleted.

Disclose indicator

If this box is ticked, the resource detail will be disclosed on the invoice to the customer.

Rollup resource type

Use the lookup values to find the resource type with which this resource record must be rolled up when invoices are displayed.

Rollup resource code

Use the lookup values to find the resource code with which this resource record must be rolled up when invoices are displayed.

- Related information

Related structure code

If an object is related to another structure, select the related object.

Related UOM

Select the related unit of measure for this specific line.

Values

Duration UOM

The unit of measure for the duration or time the resource is required for. This is only used for resources of type service, trade and support equipment.

Default Duration

The default duration/time the resource will be allocated to the work order.

Duration

The expected duration/time the resource will be allocated to the work order.

Qty UOM

Select from the available list the type of unit of measure to define the quantity. Describes the unit in which resource quantities will be required to perform the task.

Default Qty

The default quantity that will be allocated to the work order.

Budget QTY

The numerical value to indicate quantity of resource required.

Stock dimensions - Product dimensions:

Configuration

This field defines the descriptive name of configuration.(This will default in from the Inventory master table.)

Size

The field defines the size of the item, select from the available list of sizes.(This will default in from the Inventory master table.)

Colour

The field defines the colour of the item, select from the available list of colours.(This will default in from the Inventory master table.)

Style

The field defines the style of the item, select from the available list of styles. (This will default in from the Inventory master table.)

State

The field defines the state to describe the working order of the item. (This will default in from the Inventory master table.)

Storage dimensions:

Site

The field defines site where the item is stored, select from the available list of sites.

Warehouse

The field defines the warehouse location where the item is stored, select from the available list of warehouse locations.

Location

The field defines the location where the item is stored, select from the available list of locations.

Pallet ID

The field defines the pallet that is associated with the item, select from the available list of pallets.

Tracking dimensions:

Batch number

The field defines the batch number that is associated with the item, select from the available list of batch numbers.

Serial number

The field defines the serial number that is associated with the item, select from the available list of serial numbers.