---
sourceDocument: Australia Strategic Portfolio Management
sourceDocumentLink: https://servicenow-prod.fluidtopics.net/r/it-business-management

 Release :

    - australia

ft:locale :

    - en-US

ft:publication_title :

    - Australia Strategic Portfolio Management

ft:clusterId :

    - itbm

bundleId :

    - itbm

workflow :

    - Technology


---

# Create cost plans for a demand

# Create cost plans for a demand {#ariaid-title1}

Release version: Australia  
Updated March 12, 2026  
![](https://www.servicenow.com/docs/portal-asset/ico-clock) 1 minute to read  
Create a cost plan for a specified duration to track planned and actual expenses. Edit cost plans to adjust planned expenses and delete descoped forecasts.

## Before you begin

Role required: it_demand_manager

## About this task

To create, edit, or delete cost plan records, you can also use:

* The Cost Plans related list in the Details tab.
* The Estimate financial cost Playbook activity. For more information, see [Use Playbook in Next Experience for Demand Management](https://servicenow-prod.fluidtopics.net/R_VVdcv47cvhTCdCyWnc9Q "Use the default playbook or configure a custom one to capture required information for a demand and support governance processes.").
{#add-edit-or-delete-demand-cost-plans__ul_kqq_ww1_1kc}

## Procedure

1. Navigate to WorkspacesStrategic Planning Workspace.
2. Select the Demands icon ![]().
3. Open a demand from the List page.
4. Select Financials from the navigation menu.
5. Create, edit, or delete a cost plan.

   | Goal | Actions |
   | Create a cost plan | 1. Select the New cost plan button. A side panel opens with the cost plan form. 2. On the New cost plan form, fill the fields.For a description of the field values, see [Cost plan form](https://servicenow-prod.fluidtopics.net/c~4PbPrHWN7ntlU_DRCh0w "The cost plan form enables you to create a cost plan for a demand."). 3. Select Save to save the cost plan and close the side panel or Save and add new to save the cost plan and create another one. {#add-edit-or-delete-demand-cost-plans__ol_qr3_gnb_1kc} |
   | Edit a cost plan | Edit a cost plan in one of the following ways. * Select the name of the cost plan, edit the required details in the cost plan side panel, and select Update. * Double-click the cell for a future fiscal period and edit the cost plan value. * Select the row context menu ![]()and edit the values in the future fiscal periods. Note: Use the keyboard Tab key to navigate to between the fiscal periods. {#add-edit-or-delete-demand-cost-plans__ul_wmh_mnb_1kc} |
   | Delete a cost plan | 1. Select the row context menu ![]()against the cost plan name. 2. Select Delete Row. 3. On the Confirm deletion window, select Delete. {#add-edit-or-delete-demand-cost-plans__ol_hxv_gmp_11c} Note: Deleted cost plans can't be recovered. |
   |-|-|

   {#add-edit-or-delete-demand-cost-plans__choicetable_w3k_syh_pyb}  
   Note:  
   After capturing the initial planned costs, create a baseline to capture a snapshot of planned costs. Use this baseline to compare it against baselines from later dates as the work progresses, to identify the variance between initial planned costs and actual expenses. This step helps you plan for future expenses and re-forecast planned costs. For more information, see [Create financial baselines](https://servicenow-prod.fluidtopics.net/0cDdXTRBRuM2XH5ZOIHUPw "Create and compare financial baselines to get a snapshot of the demand expenses and compare the planned costs.").
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