Task

This article is going to outline how to create a budget plan in the Click Budget section and check the performance data.



Before you Read 

Currently, only the Portfolio level budget plan is available for Budget plan v1.



TABLE OF CONTENTS

 

Instructions

Step 1  Navigate to the Budget section and click Budget Plans

You will see a welcome page and click Create Budget Plan button to create your budget plan.


If you have already created budgets before, you can click Create Budget Plan Button in the upper right corner of the Budgets List page.


Step 2  Select a budget plan type

Select Portfolio type to continue the creation process as only the Portfolio level budget plan is available now.


Step 3 Complete the Budget Plan settings

You can refer to the progress bar to complete the four processes of Budget Plan creation. 

Basic Info

You need to finish the following information:

  • Basic info: like Budget Plan Name, budget level.
  • Schedule: Set the Start Date and End Date for the Budget Plan.
  • Budget Cadence: Define the budget cycle.
    One off means the Budget Plan’s budget is a total budget during the whole Budget Plan period.


Allocation

Linked Campaigns: You need to add campaigns to this Budget Plan. Then the campaign will:

  1. Set even weight: set the same weight to each added campaign. All campaigns will receive equal budget.
  2. Set the weight:  you are able to specify the weight for each campaign. The Budget Plan’s budget will be allocated to each campaign according to the weight.
    Eg: If the total Budget Plan’s budget is $1000, and 5 campaigns are added:
    Campaign nameWeightAllocated Budget
    Campaign 14$400
    Campaign 22$200
    Campaign 32$200
    Campaign 41$100
    Campaign 51$100

Budget Allocation:

Currently, we just have 1 type of budget allocation: 

Only when budgets are adjusted: At the beginning of each budget period, or when a user adjusts the budget, linked campaigns are assigned a fixed % of the total budget plan budget. 

The budget remains assigned to those campaigns until the budgets or allocations are manually adjusted, irrespective of each campaign's budget utilization.


Budgets

  1. If it is a Monthly Budget Plan, then you are able to set the default budget for all monthly periods, and also have the ability to adjust the budget per period.
    Note: If you adjust the budget for a specific period, then the default budget amount won’t override the manually updated budget amount.
  2. If it is a One Off Budget Plan, then you need to set a budget amount for the whole budget period.


Summary

You can go through all the settings in the Summary tab and click Create Budget Plan button to move forward.



Step 4 Check the Budget Plan settings

After creating a budget plan, you are able to check the settings of the Budget Plan, or make adjustments.




Outcome

Once you set up your Budget Plan, you are able to check its settings or make adjustments and check the performance data.  You can refer to this article to know how to check the performance data.