Set target budget for a fiscal year

---
title: Set target budget for a fiscal year
description: When planning for a portfolio or all portfolios, start by selecting the fiscal period for the demands and projects that you want to work with. You then set the target amounts for both operating and capital expenses of portfolios when Scenario Planning is not integrated with Investment Funding.
locale: en-US
canonical_url: https://www.servicenow.com/docs/r/australia/it-business-management/portfolio-management/select-fiscal-period-set-target.html
release: australia
product: Portfolio Management
classification: portfolio-management
topic_type: task
last_updated: "2026-09-10"
reading_time_minutes: 2
breadcrumb: [Scenario Planning for PPM, Portfolio Management, Project Portfolio Management, Strategic Portfolio Management]
---

# Set target budget for a fiscal year

When planning for a portfolio or all portfolios, start by selecting the fiscal period for the demands and projects that you want to work with. You then set the target amounts for both operating and capital expenses of portfolios when Scenario Planning is not integrated with Investment Funding.

## Before you begin

Role required: it\_portfolio\_manager or it\_pps\_admin

## About this task

Internal groups typically provide the target amount for a fiscal year. The target for the planned fiscal year can be 110% of the amount spent in the last year based on actual expenditure. The target is the starting point for planning projects for the next fiscal year.

**Note:** The PPS admin can set the portfolio target by navigating to **Project Administration** > **Enter Portfolio Target**.

If Scenario Planning is integrated with Investment Funding, the target amount is retrieved from the top investment fund allocated for a single portfolio or all portfolios.

For information on how to configure the investment funding settings for a single portfolio or all portfolios, see [Configure the scenario planning type and scope](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-management/configure-scenario-planning.md).

For information on creating a top level investment and allocating funds, see the [Create a top-level investment](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/investment-funding/create-top-level-investment.md) topic.

## Procedure

1.  Navigate to Portfolio Planning Workbench from either of two starting points.

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Location

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Steps

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**From application navigator**

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1.  Navigate to **Project** &gt; **Portfolios** &gt; **Portfolio Planning Workbench**.
2.  From the **Portfolio** choice list, select the portfolio that you want to perform the planning for.


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**From the portfolio list**

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1.  Navigate to **Project** &gt; **Portfolios** &gt; **All**.
2.  Open the portfolio that you want to perform the planning for.
3.  In the Portfolio form, click the **Portfolio Planning** related link.


</td></tr></tbody>
</table>2.  In the Portfolio Planning Workbench **Fiscal Year** choice list, select the year that you want to perform the planning for.

    You can perform financial planning for only one fiscal period at a time.

3.  Set or update the target budget amount.

    -   If you are planning for the selected fiscal year for the first time, click **Set Target**.
    -   If you have already set the target budget amount for the selected fiscal year and you want to change the amount, click **Edit Target**.
4.  In the Set Target dialog box, enter the amounts for **Capex Target** and **Opex Target**.

5.  Click **Save**.


## Result

The portfolio capital and operational expense target for different fiscal years are updated in the **Portfolio Target** related list on the portfolio record.

## What to do next

Start creating scenarios for portfolio planning. For more information, see [Create planning scenarios](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-management/create-scenarios.md).

**Parent Topic:**[Scenario Planning for PPM](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-management/portfolio-planning-overview.md)