Difference between revisions of "AFE"

Latest revision as of 09:35, 6 December 2018

AFE

AFE - Authority for CAPEX expenditures.

AFE life cycle

1. AFE is created for CAPEX projects by the AFE Owner.
2. AFE is approved in accordance with the Approval Process.
3. POs are created and attached to AFE to order things for the project.
4. Invoices are attached to the POs to pay for the ordered things.
5. Project finished, AFE closes
6. AFE actual duration is compared with planned duration
7. AFE actual cost is compared with planned cost

AFE Attributes

• Number
• Code
• CAPEX code
• Description
• Total Cost free of VAT
• Total Cost incl. VAT
• Project Start Date
• Project Finish Date
• Attached files

AFE Status

• Status: Open/Closed
• Approval Status
• Budgeted: yes/no

AFE Authorization