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Control and operating budgets
Published On May 30, 2024 - 1:04 PM

Control and operating budgets

Learn the details on defining a control budget and an operating budget in Kyndryl Modern Operations Applications.
Kyndryl Modern Operations Applications defines two types of budgets,
Control budgets
and
Operating budgets
.
Budgets can be created with the user interface or with APIs. You can use budget APIs to complete many budget functions at once or to automate some budget functions.

Defining a control budget

Control budgets
are budgets based on individual projects. To create a Control budget in Kyndryl Modern Operations Applications, you need to create a tag for the project you want to define. One Budgetary Unit needs to be created for the entire project. Budgetary Units need to be associated to the Budgetary Unit of the project tag and set the budget term to custom and associate the budget term to the project.
A budget can then be added to the Budgetary Unit. The start and end dates of the budget can be set by selecting custom and entering the start and end date of the project.
Example of a control budget
In the following example, a Control budget exists in an external application that handles funding for a project named
Example.
The project has a total budget of USD 1,000 and is scheduled to start January 2022 and complete September of 2022.
Budgetary Unit
Field
Value
Name
ExampleBudgetUnit
Budget Unit Identifier
ExBudgetUnit
Description
This is a budget for the Example Project
External Reference ID
ex123
Associated business entity
Tag: Example
Budget Term
customStatus:Active
Budget
Field
Value
Name
Example Budget
Status
Active
External Reference Id
Exbudget
Soft Quota Status
Percentage: 20
Hard Quota Status
Percentage: 40
Notify When Soft Quota Reached
Notify When Hard Quota Reached
Budget Amount
1000
Start Period
202201
End Period
202209

Defining an operating budget

An
operating budget
is the complete budget for a specified amount of time. To create an Operating budget, you need to first create a tag that best matches the approval policies of your organization. Then, you must create a Budgetary Unit and assign the context to the Budgetary Unit. The term of the budget needs to be set to predefined. The last step is to create many budgets for the Budgetary Unit based on your companies default budget interval length.
Example of an operating budget
In the following example, an Operating budget exists in an external application that handles funding for a specific company. The company has a budget of USD 50,000 quarterly. This budget begins in January 2022 and lasts the first quarter.
Budgetary Unit
Field
Value
Name
CompanyBudgetUnit
Budget Unit Identifier
CoBudgetunit
Description
This is a budget for the first quarter.
External Reference Id
ex123
Associated business entity
Tag: Company
Budget Term
Quarterly
Budget
Field
Value
Name
FirstquarterZ
Status
Active
External Reference Id
qrt1_2022
Soft Quota Status
Percentage:10
Hard Quota Status
Percentage:20
Notify When Soft Quota Reached
Notify When Hard Quota Reached
Budget Amount
50000
Start Period
202201
End Period
202203
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