In the project phase, addition funding can be approved as a Supplement.
If the responsible person for an initiative determines that additional expenditure is required to complete the initiative, they can request a Supplement. This additional expenditure may be either budgeted or unbudgeted, and this will likely impact the approval workflow. The requirement for additional funding is reflected in Stratex Online by updating the planned cost of the initiative, including any additional benefit anticipated. Approvers are able assess the impact of the Supplement on the overall business case and make informed capital allocation decisions accordingly.
For example, an IT project manager may identify the opportunity to extend the scope of a software solution under development. They would determine the additional cost of development effort and update the financial analysis accordingly, including the additional future cost saving benefits to be derived.
Key Concepts
The approval workflow for supplements is the same as for the original business case, and is based on the total value of the initiative (and not just the supplementary amount requested).
Approval of a supplement will increment the Approved amount of an initiative.
Supplements can be for increase or decreases in the approved budget.
Drilling-down on the approved amount will provide the history of approvals granted.
Supplements can only be requests when an initiative is in the project stage, and only by the person responsible or administrator.
Once an activity (original or supplementary) is approved, no further changes can be made to it. Only new supplementary activities can be added. Activities are color-coded as follows:
Color Code | Rationale |
|---|---|
Grey | Original Activity has been created with the Financial Analysis. |
Light Yellow | Previously approved supplements that have been finalized. |
Bright Yellow | Current supplements, including newly requested additions at the project stage. |
Instructions
Update the Planned Amount:
In the Project Stage, update the Planned Amount for the initiative.
If the initiative includes a Financial Analysis:
Go to the Financial Analysis section and update the Planned Amount there by adding a new activity.
If the initiative does not have a Financial Analysis:
Update the Planned Amount from the Fiscal Year Breakdown table.
Once the amount has been updated, click Done and close the options pop-up.
Route for Approval:
Click the Supplement button to route the initiative for approval.
Note: Once an Activity is approved, it cannot be edited. Only new activities can be added.
To navigate through the form sections, all mandatory fields (indicated by an asterisk) must be completed. Only then will the Next navigation button become active.
The approval workflow for supplements is based on the total initiative value, not just the supplementary amount.
Parameters created for an activity will be locked and become uneditable once the activity has been approved.