---
title: Create cost plans for a demand
description: 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.
locale: en-US
canonical_url: https://www.servicenow.com/docs/r/australia/it-business-management/portfolio-planning/add-edit-delete-demand-cost-plans-ppw.html
release: australia
product: Portfolio Planning
classification: portfolio-planning
topic_type: task
last_updated: "2026-03-12"
reading_time_minutes: 2
breadcrumb: [Manage financials for demands, Use, Next Experience for Demand Management in Portfolio Planning, Portfolio Planning, Strategic Portfolio Management]
---

# Create cost plans for a demand

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://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-planning/use-playbooks-in-ppw.md).

## Procedure

1.  Navigate to **Workspaces** > **Portfolio Planning Workspace**.

2.  Select the Demands icon \[Omitted image "demands-icon.png"\].

3.  Open a demand from the **List** page.

4.  Select **Financials** from the navigation menu.

5.  Create, edit, or delete a cost plan.

<table id="choicetable_w3k_syh_pyb"><thead><tr><th align="left" id="d179928e133">

Goal

</th><th align="left" id="d179928e136">

Actions

</th></tr></thead><tbody><tr><td id="d179928e142">

**Create a cost plan**

</td><td>

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://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-planning/create-cost-plan-form-ppw.md).

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.


</td></tr><tr><td id="d179928e183">

**Edit a cost plan**

</td><td>

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 \[Omitted image "row-context-menu-icon.png"\] Alt text:and edit the values in the future fiscal periods.

**Note:** Use the keyboard Tab key to navigate to between the fiscal periods.

</td></tr><tr><td id="d179928e213">

**Delete a cost plan**

</td><td>

1.  Select the row context menu \[Omitted image "row-context-menu-icon.png"\] Alt text:against the cost plan name.
2.  Select **Delete Row**.
3.  On the Confirm deletion window, select **Delete**.
 **Note:** Deleted cost plans can't be recovered.

</td></tr></tbody>
</table>    **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 and compare financial baselines for a demand](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/portfolio-planning/create-financial-baselines-ppw.md).