Budget Approval

The Budget Approval workflow guides the process of drafting, reviewing and formally approving project budgets. It ensures they are adequately resourced to meet their objectives and provides detailed descriptions of deliverables, associated costs, and sources of funding. Budget Approval helps ensure that all projects are delivered on time and that stakeholders have a clear and detailed understanding of expenditure. 

Streamline Your Budget Approval with pmo365

pmo365‘s Budget Approval streamlines budgeting with a centralised process for creation, tracking, and adjustment. It eliminates the need for copying and pasting data from different spreadsheets and software and automates adjustments along the project lifecycle. Funding requests are sent directly to key stakeholders for review and real-time updates and data analysis create visibility, consistency, and accountability in decision making.

Microsoft Power Automate

Microsoft Power Automate enhances your pmo365 Apps with powerful ‘no-code’ workflow automations that directly integrate hundreds of popular software applications and services.

Book a Demo

Get a free demo of pmo365

Why Choose pmo365 for Budget Approval?

Budget Approval connects with all your other pmo365 apps and tools (including Project Centre, Asset Centre and Contract Centre) to streamline project governance in an integrated system. We configure all your ERPs (including financials) and virtually any third-party PPM application to the same platform so you can manage all your project expenditure in one place. 

Integrations of real time data ensure that all your information is instantly available across the organisation and powerful reporting capabilities provide insights via Microsoft’s Business Intelligence tool, Power BI. 

Financial data is kept securely on your own Microsoft 365 cloud and you have access to best-practice tools for budget estimations, procurements, contract management, approvals, and expenditure.


Integrate pmo365 PPM seamlessly with your on-premise and cloud stack ​

What Makes Us Different

With pmo365, financial management of all your projects is integrated and multi-functional. You gain:

  • Estimations of all project costs, including labour, services, fees, and more. Easily integrate or import estimates from other sources (such as Excel) or use pmo365‘s native Cost Estimation App.
  • Integration of cost estimates (forecasts) with committed costs via Work Orders or Purchase Orders (or Timesheets for labour), and actuals (via invoices).
  • Effective oversight of budget approvals based on estimations and baselines, and of approvals for any subsequent variations.
  • The ability to breakdown budgets by different funding sources and track the consumption of funds in real time.
  • The ability to roll up budgets to program or portfolio level and govern budget allocation ‘top-down’. 

is not a single project governance tool or productivity tool, but a library of Apps, Flows, Reports and Connectors tailored to the requirements of your project managers and PMO. You select the most useful features, and we develop the components according to how you want to use them. Configuration customises PPM apps and tools, and project data is safely stored on your Microsoft cloud for instantaneous access across the organisation. 

pmo365‘s comprehensive, fully connected platform keeps all your project management tools and information in one place and all stakeholders reliably informed of project performance.

Get a Free Trial

Sign up for a free trial now in less than 20 seconds

Key Features of Budget Approval

pmo365‘s Budget Approval flow enables project managers to manage their financials and obtain approvals on a single integrated platform. You save time and ensure accountability with:

Secure Budget Tracking

Assisting project managers collaboratively create and track their budgets as well as monitor expenditure allocations and adjustments throughout the project lifecycle.

Notifications and Reminders

Notifications ensure timely action and minimal delays on budget requests and approvals.

Secure Budget Tracking

Assisting project managers collaboratively create and track their budgets as well as monitor expenditure allocations and adjustments throughout the project lifecycle.

Notifications and Reminders

Notifications ensure timely action and minimal delays on budget requests and approvals.

Secure Budget Tracking

Assisting project managers collaboratively create and track their budgets as well as monitor expenditure allocations and adjustments throughout the project lifecycle.

Notifications and Reminders

Notifications ensure timely action and minimal delays on budget requests and approvals.

Approval Workflows

Customisable workflows for budget requests from key stakeholders. Flows ensure structured and efficient frameworks applied to all budget approvals.

Integration with Financial Systems

Streamlined budget approvals and procurements with seamless data transfer. Secure integrations eliminate double handling and ensure accuracy in financial records.

Budget Collaboration

Facilitating communication between team members and stakeholders on budget proposals with real-time comments, discussion, and document sharing.

Reporting and Business Intelligence Tools

Comprehensive budget reports for up-to-the-minute updates on progress. BI tools assist project managers with insights and audit trails, as well as the ability to track changes and ensure compliance with financial regulations.

Forecasting and Analysis

Assessments of financial impacts from budget choices, modelling of ‘what-if’ scenarios, and the ability to make data-driven decisions around projected outcomes.

Mobile Accessibility

Users review and approve budgets from almost anywhere, enabling faster response times and greater collaboration between stakeholders.

Frequently Asked Questions

Budget approval is the process of reviewing and granting authorisation for project budgets by evaluating proposed expenditure and resource allocation. It also ensures that project objectives are valuable to the organisation and achievable within capacity constraints. The approval process typically involves obtaining consent from various key stakeholders and managers. These conduct a step-by-step revision of plans for project delivery and consult with other managers and historical data to assess its viability.

Without a coordinated and consistent budget analysis process, less worthwhile projects could be getting preferred by your organisation for all the wrong reasons. Every organisation needs a robust and systematic approach to budgeting projects that takes account of all the factors involved. In this way your organisation is less likely to be wasting time and resources on projects that fail to deliver value. A rigorous budget approval process prepares project managers for success, and thorough discussion around risks, costs, and expected value lessens the potential for unexpected surprises. It also helps with planning other aspects of project delivery like tasks assignment and procurements. On top of that, careful budgeting lets project portfolios be prioritised and optimised for maximum return.

A budget approval flow ensures there are controls over expenditure and that budgets align with realistic projections of cost. It also assists with:

Resource Allocation: by evaluating and approving the allocation of funds to specific projects to help ensure that resources are allocated optimally, avoiding overspending or underfunding of projects.

Cost Management: by identifying potential cost overruns, assessing the financial impact of proposed changes, and making informed decisions to keep projects within budget.

Stakeholder Engagement: by involving key stakeholders in the decision-making process to foster greater input, transparency, and engagement. Greater engagement builds trust and accountability among stakeholders and increases commitment to project success.

Risk Mitigation: by letting stakeholders evaluate the financial risks associated with projects, identify potential financial constraints, and implement mitigation strategies to address these risks.

Compliance and Governance: by ensuring compliance with financial regulations, organisational policy, and governance frameworks. A workflow provides an auditable trail of approvals, demonstrating adherence to financial controls and standards.

pmo365 is a fully modular system. Each App, Flow, Report or Connector easily plugs into place to build the exact real-time project portfolio management system you require. And, because it’s modular and highly customisable, the ability of pmo365 to evolve and change with your needs as you grow is built into the system – not as an afterthought. We provide tailored solutions to assess and manage project information with the latest, best-practice business case analysis tool, instantaneous data updates, and integrations of all the project management apps and tools you currently use. pmo365 ensures up-to-the-minute performance and powerful strategic insights, now and into the future.

Download Our Solutions Guide

The Project Management Office on your Microsoft 365 Cloud

Our Other Apps & Workflows

pmo365‘s Solution Library offers a complete and comprehensive range of project portfolio management software. You can choose the solution that best serves your current needs and continue to explore new enhancements over time. Our subscription service means you pay only one monthly fee with absolutely no development costs or building of code from scratch.

We deploy pmo365 using Microsoft’s secure and adaptable Power Platform, so you have virtually unlimited access to new Microsoft and non-Microsoft PPM tools for life. Furthermore, once you take out a pmo365 subscription, you own the solution and all the data kept on your Microsoft 365 cloud forever – even after your subscription expires. And we’ll continue to help you to manage your service however and whenever you need it.

Get a Free Demo of pmo365

Project Portfolio Status

Model-Driven Application

No cookie-cutter demos here! A pmo365 representative will schedule a virtual meeting with you and customize your demo based on your business’s unique challenges, needs, and project interests.

Alternatively, have a face to face chat with us right now.