Create monetary benefit plans for your projects in Project Workspace

---
title: Create monetary benefit plans for your projects in Project Workspace
description: Create and manage monetary benefit plans to capture the potential benefits while executing your projects.
locale: en-US
canonical_url: https://www.servicenow.com/docs/r/australia/it-business-management/project-workspace/fin-manage-monetary-benefit-plans-pws.html
release: australia
product: Project Workspace
classification: project-workspace
topic_type: task
last_updated: "2026-09-10"
reading_time_minutes: 1
breadcrumb: [Manage financials, Project Workspace, Project Portfolio Management, Strategic Portfolio Management]
---

# Create monetary benefit plans for your projects in Project Workspace

Create and manage monetary benefit plans to capture the potential benefits while executing your projects.

## Before you begin

-   [Enable monetary benefit plans for projects](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/project-workspace/enable-benefitplans-pws-fin.md)
-   Role required: sn\_align\_ws.spw\_financial\_user

## About this task

\[Omitted video\] Description: Create and manage benefit plans

## Procedure

1.  Navigate to **Workspaces** > **Project Workspace** and open a project.

2.  Create a monetary benefit plan using one of the options.

<table id="choicetable_b1n_bmf_khc"><thead><tr><th align="left" id="d367804e102">

Option

</th><th align="left" id="d367804e105">

Procedure

</th></tr></thead><tbody><tr><td id="d367804e111">

**Using Monetary benefit plan related list**

</td><td>

1.  Select the **Monetary Benefit Plans** related list.
2.  Select **New**.

\[Omitted image "fin-slct-monetary-benefit-plan-gif.gif"\] Alt text: GIF showing selection of Monetary Benefit Plans related link.

</td></tr><tr><td id="d367804e141">

**Using finanicals record page**

</td><td>

1.  Select **Financials** from the left menu.
2.  Select **New monetary benefit plan** using the More actions option.


</td></tr></tbody>
</table>3.  On the Benefit Plan form, fill the fields.

    For a description of the field names, see [Benefit Plan form](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/project-management/benefit-plan-form-project-management.md).

4.  Select **Save**.


-   **[Edit monetary benefit plan](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/project-workspace/fin-edit-monetary-benefit-plan-pws.md)**  
Edit a planned monetary benefit plan to revise the benefits, dates, offset, and so on, to maintain the updated financial records as your work progresses.
-   **[Capture actual monetary benefits](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/project-workspace/fin-manage-actual-monetary-benefit-pws.md)**  
Capture the actual benefit from the planned benefits to measure revenue and calculate the profits.

**Parent Topic:**[Managing financials for your projects](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/project-workspace/using-financials-prj-wrkspc.md)