Legacy- Create and promote a budget plan

task australia Updated Sep 10, 2026 3 min read t_CreateABudgetPlanFromPortfolio.md

As part of the PPM Standard (Project Portfolio Management) integration, you can create and promote a budget plan for a portfolio.

Before you begin

Role required: it_portfolio_manager
The Portfolio Planning field for portfolio must be set to Advanced on the Portfolio form.
The name of the portfolio manager must be set in Portfolio Manager field on Portfolio form.
The budget period for the selected fiscal period must be open to create and promote a budget plan for a portfolio.

Note: PPS admin can also open and close the budget period for a fiscal period from Project Administration > Open/Close Budget Periods.

About this task

The budget plan includes costs from all selected projects and demands. The budget plan summary is displayed on portfolio workbench and the details can be seen in Financial Planning. In the advanced planning mode, the creation of a budget plan is mandatory to be able to track the portfolio.

Procedure

Navigate to portfolio workbench and open the portfolio that you want to track.
Click Promote Budget Plan under Step 3: Budgeting.

Result

The budget plan for the portfolio for the selected fiscal year is created and promoted. You can re-promote the budget plan, if required.
A budget task with the status Pending Approval is created when the portfolio manager promotes the budget plan, the first time in the budgeting period. The status of the task is visible in Portfolio Workbench.

What to do next

View the status of the budget plan below the budget plan name under Step 3: Budgeting in portfolio workbench. Click the Status link to view the budget task for the budget plan in financial planning workbench. The finance reviews the portfolio budget plans in the Planning Workbench and approves the plan.
Legacy- Track the portfolio.
Legacy- Create and promote a forecast plan.
If the budget plan is finalized and no more changes are expected, the budget period must be closed.

Parent Topic:Legacy- Plan the portfolio

Related topics

Legacy portfolio workbench

59 lines · 4.2 KB Wrap lines

---
title: Legacy- Create and promote a budget plan
description: As part of the PPM Standard \(Project Portfolio Management\) integration, you can create and promote a budget plan for a portfolio.
locale: en-US
canonical_url: https://www.servicenow.com/docs/r/australia/it-business-management/portfolio-management/t\_CreateABudgetPlanFromPortfolio.html
release: australia
product: Portfolio Management
classification: portfolio-management
topic_type: task
last_updated: "2026-09-10"
reading_time_minutes: 3
breadcrumb: [Legacy- Plan the portfolio, Legacy portfolio workbench, Portfolio Management, Project Portfolio Management, Strategic Portfolio Management]
---

# Legacy- Create and promote a budget plan

As part of the PPM Standard \(Project Portfolio Management\) integration, you can create and promote a budget plan for a portfolio.

## Before you begin

- Role required: it\_portfolio\_manager
- The **Portfolio Planning** field for portfolio must be set to **Advanced** on the [Portfolio form](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-management/t_CreateAPortfolio.md).
- The name of the portfolio manager must be set in **Portfolio Manager** field on Portfolio form.
- The [budget period](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-management/create-a-budget-period.md) for the selected fiscal period must be open to create and promote a budget plan for a portfolio.

**Note:** PPS admin can also open and close the budget period for a fiscal period from **Project Administration** &gt; **Open/Close Budget Periods**.

## About this task

## Procedure

1. Navigate to portfolio workbench and open the portfolio that you want to track.

2. Click **Promote Budget Plan** under **Step 3: Budgeting**.

## Result

- The budget plan for the portfolio for the selected fiscal year is created and promoted. You can [re-promote the budget plan](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-management/repromote-budget-plan.md), if required.
- A budget task with the status **Pending Approval** is created when the portfolio manager promotes the budget plan, the first time in the budgeting period. The status of the task is visible in Portfolio Workbench.

## What to do next

- View the status of the budget plan below the budget plan name under **Step 3: Budgeting** in portfolio workbench. Click the **Status** link to view the budget task for the budget plan in [financial planning workbench](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-management/view-ppm-portfolio-budget-plan-in-planning-workbench.md). The finance reviews the portfolio budget plans in the [Planning Workbench](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-management/financial-planning-workbench.md) and approves the plan.
- [Legacy- Track the portfolio](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-management/t_ReviewFinancialPlanning.md).
- [Legacy- Create and promote a forecast plan](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-management/create-forecast-plan.md).
- If the budget plan is finalized and no more changes are expected, the budget period must be closed.

**Parent Topic:**[Legacy- Plan the portfolio](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-management/c_FinancialPlanningForPortfolio.md)

**Related topics**

[Legacy portfolio workbench](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-management/c_PortfolioWorkbench.md)