Project Budget Control: Budget Locking

Once the project budget has been agreed upon, you can lock the original figures to prevent further editing. After the original budgeted values have been locked, you can still update the revised budgeted values. Because you maintain the original values, you can assess how accurately the budget was estimated. Because you can also make adjustments to the revised budget as additional information becomes known, budget revisions provide the most accurate and up-to-date estimation of the budget.

When you have decided to prevent any changes to the original budgeted values of the project, you click the Lock Budget command on the More menu of the Projects (PM301000) form. When the project is locked, the following columns on the Revenue Budget and Cost Budget tabs become read-only:

• Original Budgeted Quantity
• Unit Rate
• Original Budgeted Amount

You can still edit the budgeted values in the Revised Budgeted Quantity and Revised Budgeted Amount columns.

If you decide to again allow changes to be made to the project’s original budgeted values, you unlock the project budget by clicking the Unlock Budget command on the More menu of the Projects form.