What is a Budget Bucket Item

An item within a Metrix Assets Budget Bucket is an Asset Component that has been assigned to the bucket, setup with a proposed budgeted treatment method, and hence, a proposed budgeted cost. The allocation of a budget bucket is the sum of all the bucket items within it.

In order to be assigned to a bucket as a bucket item, an Asset Component should have the following properties:

• a Valid Construction Date or Intervention Date value
• a Valid Cost Units value

Whilst the above requirements to not preclude the assignment of an Asset Component to a bucket, they do mean that the allocation assumptions and/or the capacity for the bucket item costs to be capitalised may be limited. Below are some details pertaining to these issues:

• Missing Construction Date: If a bucket item does NOT have a valid construction date, then the system will disallow capital spends within the bucket. This is because, presently, Metrix does not allow the creation of capital valuation transactions against components with no construction date.
• Missing Cost Units value: If a bucket item does NOT have a valid cost units value, then the system will calculate a ZERO dollar cost for any non-fixed price budgeted treatment method. This is simply because any treatment based budgeted treatment method will leverage the cost units value to calculate the budgeted cost.