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Budget Monitoring Matt Logsdon January 29, 2018 Maximo 7.6

Maximo 7.6 Budget Monitoring...Maximo 7.6.0.8 –Budget Monitoring The #1most requested Maximo enhancement has arrived! In the Budget Monitoring application you can create budget records

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Page 1: Maximo 7.6 Budget Monitoring...Maximo 7.6.0.8 –Budget Monitoring The #1most requested Maximo enhancement has arrived! In the Budget Monitoring application you can create budget records

Budget Monitoring

Matt Logsdon

January 29, 2018

Maximo 7.6

Page 2: Maximo 7.6 Budget Monitoring...Maximo 7.6.0.8 –Budget Monitoring The #1most requested Maximo enhancement has arrived! In the Budget Monitoring application you can create budget records

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 monitortransactions for a financial period or year.

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Page 3: Maximo 7.6 Budget Monitoring...Maximo 7.6.0.8 –Budget Monitoring The #1most requested Maximo enhancement has arrived! In the Budget Monitoring application you can create budget records

Where do I find Budget Monitoring

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Page 4: Maximo 7.6 Budget Monitoring...Maximo 7.6.0.8 –Budget Monitoring The #1most requested Maximo enhancement has arrived! In the Budget Monitoring application you can create budget records

Budget Monitoring Application

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Page 5: Maximo 7.6 Budget Monitoring...Maximo 7.6.0.8 –Budget Monitoring The #1most requested Maximo enhancement has arrived! In the Budget Monitoring application you can create budget records

Maximo Budget Monitoring – Status Lifecycle

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Page 6: Maximo 7.6 Budget Monitoring...Maximo 7.6.0.8 –Budget Monitoring The #1most requested Maximo enhancement has arrived! In the Budget Monitoring application you can create budget records

Rules to Define “Cost Collection Buckets”

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Page 7: Maximo 7.6 Budget Monitoring...Maximo 7.6.0.8 –Budget Monitoring The #1most requested Maximo enhancement has arrived! In the Budget Monitoring application you can create budget records

Budget Management Roles

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▪ Budget AdministratorDetermines the Focal Points & Rules for budget creation and tracking

▪ Budget ManagerCreates, manages and provides reports on the budget

▪ Any Maximo UserPerforms transactions in multiple applications in Maximo

Page 8: Maximo 7.6 Budget Monitoring...Maximo 7.6.0.8 –Budget Monitoring The #1most requested Maximo enhancement has arrived! In the Budget Monitoring application you can create budget records

Establish a 2018 Budget for Asset # 11200

Scenario #1 – Setting up a Budget for a specific asset

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Page 9: Maximo 7.6 Budget Monitoring...Maximo 7.6.0.8 –Budget Monitoring The #1most requested Maximo enhancement has arrived! In the Budget Monitoring application you can create budget records

Establish a 2019 Budget for all Locations with a Priority = 1

-AND-

All Assets that are Measurement & Test Equipment (M&TE)

Scenario #2 – Setting up a Budget with two Focal Points

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Page 10: Maximo 7.6 Budget Monitoring...Maximo 7.6.0.8 –Budget Monitoring The #1most requested Maximo enhancement has arrived! In the Budget Monitoring application you can create budget records

▪ 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 seven (7) 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

As a Budget Administrator…

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Page 11: Maximo 7.6 Budget Monitoring...Maximo 7.6.0.8 –Budget Monitoring The #1most requested Maximo enhancement has arrived! In the Budget Monitoring application you can create budget records

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

Page 12: Maximo 7.6 Budget Monitoring...Maximo 7.6.0.8 –Budget Monitoring The #1most requested Maximo enhancement has arrived! In the Budget Monitoring application you can create budget records

Create transactions on:

▪Work Orderso Work Plan

o Work Actuals

▪Purchase Requisitions

▪Purchase Orders

▪Receipts

▪Invoices

▪Issues

As a Maximo User

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Page 13: Maximo 7.6 Budget Monitoring...Maximo 7.6.0.8 –Budget Monitoring The #1most requested Maximo enhancement has arrived! In the Budget Monitoring application you can create budget records

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

ActualDirect 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

Page 14: Maximo 7.6 Budget Monitoring...Maximo 7.6.0.8 –Budget Monitoring The #1most requested Maximo enhancement has arrived! In the Budget Monitoring application you can create budget records

Maximo Budget Monitor - Reporting

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Internal Labor

External Labor

Services

Material direct issue

Stored Material

Tools

Page 15: Maximo 7.6 Budget Monitoring...Maximo 7.6.0.8 –Budget Monitoring The #1most requested Maximo enhancement has arrived! In the Budget Monitoring application you can create budget records

Maximo Budget Monitor – Reporting Details

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Page 16: Maximo 7.6 Budget Monitoring...Maximo 7.6.0.8 –Budget Monitoring The #1most requested Maximo enhancement has arrived! In the Budget Monitoring application you can create budget records

• The rules created with the Auto-configuration has a issues regarding dates whichyou can easily fix. IBM will be making this correction.

• MXLOADER can be used to quickly populate Budget Lines. Maximo Import/Exportcan also be used.

A few other tips…

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Page 17: Maximo 7.6 Budget Monitoring...Maximo 7.6.0.8 –Budget Monitoring The #1most requested Maximo enhancement has arrived! In the Budget Monitoring application you can create budget records

Cohesive Educational Webinars

Q & AMatt [email protected]