Maintenance Budgets Setup

Maintenance Budgets Setup

Overview

Maintenance budgets allow you to allocate funds for maintenance activities, compare planned versus actual costs, and analyze budget performance by asset, category, location, department, or project.

Prerequisites

• Dynaway EAM extension installed and enabled
• Appropriate permissions to access Maintenance Budgets setup pages

Steps to Set Up Maintenance Budgets

1. Define Budget Structures

Budgets can be created for different levels, such as assets, asset categories, departments, or projects.

To define a budget structure:

1. Navigate to the Maintenance Budgets page.
2. Select New to create a new budget.
3. Enter a descriptive name and select the budget type (e.g., Asset, Category, Department).
4. Specify the period (monthly, quarterly, yearly) and currency.
5. Optionally, assign up to four custom Budget Dimensions for advanced analysis.

2. Assign Budget Amounts

For each budget, assign planned amounts for maintenance activities.

To assign budget amounts:

1. In the budget lines, select the asset, category, or department.
2. Enter the planned amount for each period and cost type (labor, materials, expenses).
3. Optionally, add notes or references for each line.

3. Link Budgets to Work Orders

Budgets can be linked to work orders to track actual costs against planned amounts.

To link budgets:

1. When creating or editing a work order, select the relevant budget.
2. Actual costs from work orders are automatically posted to the linked budget.

4. Monitor Budget Performance

Use built-in reports and dashboards to compare planned and actual costs.

To monitor performance:

1. Open the Maintenance Budget Matrix or Maintenance Budget Analysis page.
2. Review budget consumption, variances, and trends.
3. Export data for further analysis if needed.

Key Features

• Multi-level Budgeting: Create budgets for assets, categories, departments, or projects
• Flexible Periods: Set up budgets for any time frame (monthly, quarterly, yearly)
• Actual vs. Planned Tracking: Link work orders to budgets for real-time cost tracking
• Reporting: Access budget analysis and variance reports
• Custom Dimensions: Use up to four custom dimensions for advanced reporting