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Purpose of assigning more than one budget to a project

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Dear Members,
In Oracle Projects Costing module, system allows us to assign more than one budget to a particular project.
Can any one please tell me what is the real time requirement and the purpose of this functionality.
Many thanks in advance.
Best Regards.

Answers

Hi
Different budget types may be related to different managerial processes.
Examples -
For contract project you may setup a budget type to represent the amounts presented and approved by the customer, and set another budget type for internal management, may be with more granular budget entry method.
Companies may set the initial budget of the project, and not allow to update that. The use another type to represent more recent update of the project forecast. Then compare the forecast to original budget.
There could be separate budgets to control parts of the project costs. Like using a budget only for controlling external expenses. On that you enter budget amount only for materials, outside processing and sub-contracting expenditure types.
Dina

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