The document discusses Maximo's new Budget Monitoring application, which allows users to create budget records to monitor transactions for a financial period. It provides an overview of how to find and use the Budget Monitoring application, describes the budget status lifecycle and rules for collecting cost data, and outlines the roles of budget administrators, managers and other Maximo users. Examples are given of setting up budgets for specific assets or locations. Reporting capabilities are also summarized.

1. Budget Monitoring
Matt Logsdon
November 13, 2017
Maximo 7.6.0.8

2. Maximo 7.6.0.8 – Budget Monitoring
▪ The #1 most requested Maximo enhancement has arrived!
▪ In the Budget Monitoring application you can create budget
records to monitor transactions for a financial period or year.
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3. Where do I find Budget Monitoring?
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4. Budget Monitoring Application
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Budget ID Budget Status
Time Period
Budget Supervisor
Focal Point for the
Budget
Budget Lines

5. Maximo Budget Monitoring – Status Lifecycle
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Start
DRAFT
WAPPR
APPR
CANCELLED
CLOSED
End
If the User is the
Supervisor
Generate Budget Lines when the Status is DRAFT, WAPPR or APPR
Update Budget Lines – Manually with a Select Action -or-
Automatically with the CRON Task (BUDGETUPD)

6. • IBM provides “out-of-the-box” rules for cost collection
• Customer can also define their own rules
Rules to Define “Cost Collection Buckets”
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Estimated Committed Actual
Cost Collection Buckets

7. Budget Management Roles
▪ Budget Administrator
Determines the Focal Points & Rules for budget creation and tracking
▪ Budget Manager
Creates, manages and provides reports on the budget
▪ Any Maximo User
Performs transactions in multiple applications in Maximo
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8. Scenario #1 – Setting up a Budget for a specific Asset
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Establish a 2017 Budget for Asset # 11200

9. Scenario #2 – Setting up a Budget for all “critical” Locations
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Establish a 2018 Budget for all Locations with a Priority = 1

10. As a Budget Administrator…
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▪ Manage the budget Focal Points: Defines your scope of interest
for the budget.
➢ Nine Focal Points are provided OOTB
▪ Asset
▪ Location
▪ Chart of Account
▪ and six (6) GL Segments
➢ New Focal Points can be added in the ‘Manage Focal Points’ action
▪ Manage Rules: Sets the rules for collecting cost information for
Estimated, Committed, and Actuals cost buckets.
➢ Using the “Auto-configuration” button under the ‘Manage Rules’
action creates 53 default rules
➢ You can also define your own rules for cost collection

11. As a Budget Manager
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▪ Create the Budget record header
▪ Create the Budget Lines using the ‘Generate Budget Lines’ action
▪ Update the Budgeted amounts on each Budget Line
➢ Manually update each Budget line –or-
➢ Use Export & Import or MXLOADER for bulk loading
▪ Approves the Budget
▪ Updates the Budget Lines (Amounts)
➢ Use the Update Budget Line action
➢ Via the Budget cron task (BUDGETUPD)
▪ Runs the Budget report

12. As a Maximo User
Create transactions on:
▪ Work Orders
o Work Plan
o Work Actuals
▪ Purchase Requisitions
▪ Purchase Orders
▪ Receipts
▪ Invoices
▪ Issues
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13. Budget Monitor Default Costs Allocation Rules
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WO Work
Plan WAPPR
Status
PR all
statuses
PO WAPPR
status
PO Other
statuses
WO Work
Plan all
other
statuses
Receipt
COMP
status
Invoice
APPR status
WO Actuals
Estimated
Committed
Actual
Estimated
Committed
Actual
Direct Issue Items, Material, and Services &
Standard Services from a WO
Labor, Storeroom Items, & Tools
Other Rules :
• Any cancelled WO, PR, PO decreases the related estimated costs
• Any deleted WO work plan line, PR line, PO line decreases the estimated cost
• On the invoice, the actual cost is only updated if the invoice line unit cost is different then the PO line unit cost
Estimated
Committed
ActualItems and Tools Issue on Receipt & Services & Standard
Services & Material from PR

14. Maximo Budget Monitor - Reporting
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Budgeted
Estimated
Committed
Actuals
Budget & costs analysis
Committed Cost per type Actual Cost per type
Internal Labor
External Labor
Services
Material direct issue
Stored Material
Tools
Internal Labor
External Labor
Services
Material direct issue
Stored Material
Tools
Budget & Cost analysis

15. Maximo Budget Monitor – Reporting Details
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16. A few other tips…
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▪ The rules created with the Auto-configuration has a issues
regarding dates which you can easily fix.
IBM will be fixing this.
▪ MXLOADER can be used to quickly populate Budget Lines.
Maximo Import/Export can also be used.

17. Matt Logsdon
mlogsdon@cohesivesolutions.com
770-378-5402
Cohesive Educational Webinars
Q&A