---
title: Create a monetary benefit plan for a project
description: Create a monetary benefit plan to specify the estimated benefit in a category spanning one or more fiscal periods. Project benefit plans capture the potential benefits accrued by the project when the project is executed.
locale: en-US
canonical_url: https://www.servicenow.com/docs/r/australia/it-business-management/project-management/create-project-benefit-plan.html
release: australia
product: Project Management
classification: project-management
topic_type: task
last_updated: "2026-03-12"
reading_time_minutes: 5
breadcrumb: [Starting a project, Using Project Management, Project Management, Project Portfolio Management, Strategic Portfolio Management]
---

# Create a monetary benefit plan for a project

Create a monetary benefit plan to specify the estimated benefit in a category spanning one or more fiscal periods. Project benefit plans capture the potential benefits accrued by the project when the project is executed.

## Before you begin

Role required: it\_project\_manager

## About this task

The monetary benefit plan breakdown records are automatically created when you save the benefit plan.

## Procedure

1.  Navigate to **All** > **Project** > **Projects** > **All**.

2.  Open the required project.

3.  In the **Monetary Benefit Plans** related list, select **New**.

    **Note:** To create a monetary benefit plan from the **Financials** tab in Project Workspace, select **Manage**.

4.  On the form, fill in the fields.

    For field information, see [Benefit Plan form](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/project-management/benefit-plan-form-project-management.md).

    **Note:** When you move the project or the milestone date, the associated benefit plans also change accordingly based on whether the benefit plan is tied to the project start date, end date, or one of the project milestones. The [project property](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/project-management/r_InstalledWithProjectManagement.md) **Change Resource Plan, Cost Plan and Benefit Plan Start Date with Demand or Project Start Date Change** controls the behavior for project date changes.

5.  Select **Submit**.


## What to do next

On the Benefit Plan form, view the benefit breakdown by fiscal period in the Monetary Benefit Plan Breakdowns related list.

-   **[Update a monetary benefit plan breakdown for a project](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/project-management/update-benefit-plan-breakdown.md)**  
Update a monetary benefit plan breakdown record that specifies the estimated and actual benefits, at a granular level, for specific fiscal periods.

**Parent Topic:**[Starting a project](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/project-management/t_CreateAProject.md)

**Related topics**  


[Create a project task from a project]()

[Create a parent-child relationship on the Project Task form]()

[Create a non-monetary benefit plan for a project]()

[Associate monetary and non-monetary benefit plans]()

[Create a project cost plan]()

[Recalculating costs of all resource plans in a project]()

[Create an expense line]()

[Create and manage waterfall projects]()

[Update a project]()

[Copy a project]()

[Assign a project schedule]()

[Create baseline of a project]()

[Create a milestone]()

[Activate project task email notifications]()

[Change the planned start date of a project]()

[Create a cost type definition]()

[Costing add-on in Project Management]()

[Generate labor costs]()

[Create a project status report]()

[Allocate budget to a project]()

[Migrate budget of active projects to Next Experience]()

[Migrate financial baselines of projects to Next Experience]()

[Update a monetary benefit plan breakdown for a project](https://raw.githubusercontent.com/ServiceNow/ServiceNowDocs/australia/markdown/australia/it-business-management/project-management/update-benefit-plan-breakdown.md)